Q&A: Did the final version of Foreclosure Act include the $7000 credit for the purchase of a foreclosed home?

Question by Stacey C: Did the final version of Foreclosure Act include the 00 credit for the purchase of a foreclosed home?
I purchased a foreclosure in June 2008. I know the Foreclosure Prevention Act underwent many revisions. Does anyone know if the final version which the President is expected to sign still includes the provision for the $ 7000 tax credit for the purchase of owner occupied foreclosed homes? I am not a first time homebuyer.

Best answer:

Answer by Olivia S
I had the same question as I also bought a foreclosure this year. I think this morphed into the $ 7500 credit for all first time home buyers (not a homeowner within 3 years). However, it has to be paid back to the gov’t with 15 yrs, ie, $ 500/yr.

This is the forum where I got the info.
http://forum.dvdtalk.com/showpost.php?p=8836174&postcount=47

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