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Unfair Stipulation in the First-Time Home Buyer Tax Credit

Allow all First-Time Home Buyers to claim the $8,000 Tax Credit regardless of the home's previous owner.

The stipulation that disqualifies first-time home buyers from receiving the tax credit because of the previous owner being a relative is unfair and should be removed or modified.

I am a 23 year-old single mother and I just purchased my first home. The house that I purchased is 15 years old and needs work. When I learned about the $8,000 tax credit given to first-time home buyers, I was relieved of worrying about where to get the money to fix my home in these tough economic times.

Then I learned that Congress has included a stipulation that disqualifies me from receiving the $8,000 tax credit because I purchased my home from a relative.

I am a law-abiding and tax paying citizen and I have worked very hard to purchase my first home. I went through the full process of taking out a loan and signing a contract and it is not right that I do not qualify for this tax credit because of who owned my house before me.

I know there are many others who also fall into this category. So please assist myself and the many other first-time home buyers in this predicament, in changing this stipulation and getting our earned piece of the American Recovery Act.




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