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$15,000 Home Buyer Credit - Stimulus Bill Passes in Senate

A sampling of blogs today reporting on the Senate's passage of the revised Stimulus Bill with some commentary and conversation regarding the $15,000 Home Buyer Credit.

Wall Street Journal Developments Blog
FAQ: Senate Stimulus Bill’s Home Buyer Tax Credit

The Senate bill modifies an existing $7,500 home buyer credit, repealing a provision that requires buyers to pay it back.  Major differences include...

The Senate version is nonrefundable, meaning you can only receive the credit if you owe federal income taxes. The existing credit is refundable, meaning you get a check from the government even if you don’t owe income tax. And the current credit applies to first-time home buyers, defined as anyone who hasn’t bought a house in three years. The Senate version is open to existing homeowners.

Geithner's bear of a day

Inman News 
Stimulus bill, 'TARP II' offer housing incentives

Download Treasury_Dept Fact Sheet on Financial rescue  (PDF)

Administration Outlines Bailout Spending Plan