The 2008 housing stimulus has to be paid back every year at $500 out of your tax return if you bought your house on or before 12/31/2008. If you close any day after that you dont have to pay it back. So we should'nt get punished for buying a house in 2008. And if you file bankrupcy and keep your home you should be able to refinance at a lower rate to keep your home affordable. Right now you have to wait two years. That does no good when you need to save money now.
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