2008 First-Time Homebuyer's
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When Congress passed the Housing and Economic Recovery Act in 2008 it included the First-Time Homebuyer Credit as an incentive to get people buying homes during this tough economic crisis. It was presented as a $7,500 no-interest loan to be paid back over 15 years beginning in 2010. The American Recovery and Reinvestment Act of 2009 passed in January, 2009 increased the amount to $8,000 and is being called a tax credit that will not be paid back.
I set up this petition as a way for first-time homebuyers in 2008 to voice their concern about having to repay the no-interest loan. The other provisions of the Act will remain the same (as with the 2009 Act).
The Housing Bubble started to lose air in 2006 and has yet to completely deflate. The Americans (per realtor.org 264,000 households met the purchase requirements of the 2008 Act) who chose to buy their first home between April 2008 and December 2008 should be afforded the same incentives that first-time homebuyers in 2009 are being offered.
I set up this petition as a way for first-time homebuyers in 2008 to voice their concern about having to repay the no-interest loan. The other provisions of the Act will remain the same (as with the 2009 Act).
The Housing Bubble started to lose air in 2006 and has yet to completely deflate. The Americans (per realtor.org 264,000 households met the purchase requirements of the 2008 Act) who chose to buy their first home between April 2008 and December 2008 should be afforded the same incentives that first-time homebuyers in 2009 are being offered.
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