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Forgive the repayment balance for 1st time homebuyer credit, under the Housing and Economic Recovery Act of 2008.

Created by E.P. on December 13, 2012

Revise the repayment rules of the first time home buyers credit to be equal for all. First time home buyers in 2008 were allowed a $7500 credit, repayable over 15 years, where as first time home buyers in 2009 and 2010 were allow a $8000 credit, that did not have to be repaid provide certain provisions were met.

The housing market has yet to recover, and those that purchased in 2008 have lost far more in equity than those that purchased in 2009 or 2010, yet they allowed the greatest benefit.

For an administration that is always talking about what is fair, this discrepancy should surely be addressed.

Economy & Jobs
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