counselor4kids
07-08-2003, 08:51 AM
FYI-there is a bill going through the Senate called the First Time Homebuyers Tax Credit. If it passes, there will be a one time tax credit for first time buyers ($3000 single/$6000 married). The good news is the tax credit could also be used in advance-the government would transfer the funds to the lender to cover down payment, closing costs, etc. Type in the search bar thomas.loc.gov and do a bill search for S. 1175. That will give you the actual text of the bill. There should be a good chance for passage-Bush will want all of us pitiful people struggling to buy a home in his corner at re-election! If only the government would move a little faster and get this rolling... ;)