IMPORTANT UPDATE! Bill signed on 2/17/2009.
Original post below:
“… Congress might be on the verge of transforming it into a true tax credit — one that never has to be paid back…” for purchases made on or after 1/1/2009.
I personally don’t see how changing the repayment terms for people who bought houses last year can be part of a “stimulus” package. Posting this so that people who are eligible for the credit are aware that there may be a change in the repayment feature. (update: Apparently Obama agreed with me, as there does not appear to be a change in the repayment feature for homes bought from 4/9/08 through 12/31/08 and the 2008 $7,500 Loan/Credit.)