First time home buyers who purchased a house between April 1st, 2008 and December 31st, 2008 were eligible to receive a $7,500 non-refundable tax credit. This tax credit was to be repaid in equal installments over fifteen years with no interest.
For 2009, Congress passed a bill giving first time home buyers an $8,000 non-refundable tax credit that did not have to be paid back.
Americans who made the leap of faith into home ownership are being treated unfairly and inequitably by the Federal Government. I ask President Obama to work on a bipartisan bill with Congress that would forgive the tax credit for 2008 recipients who have paid in good faith.