Saturday, August 9, 2008

New Housing Law is Good for Buyers!

Uncle Sam Wants You to Buy a House!

It's no secret that President Bush signed a $300 billion housing bill into law last week. In addition to helping cash-strapped homeowners avoid foreclosure, the law aims to help first-time home buyers to jump start their search in a tough[ish] economy.

So if you're house hunting on [etc.], the law can mean a BIG benefit. To boil it down to the basics: first-time home buyers get up to $7,500 tax credit. This basically means you get a 0% loan for 15 years if you buy a home between April 9, 2008 and July 1, 2009.

Of course Uncle Sam has some restrictions based on your income, so Trulia rounded up some key advice and opinions from Trulia Voices to answer your questions. Check it out on Trulia...

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