Yesterday, the House passed an economic stimulus bill that included a lot of spending. One of the items, though, is good news for first time homebuyers. In an effort to kick-start the housing market last year, Congress passed a bill that gave first time homebuyers up to $7,500 in tax credits. Unfortunately, the money had to be paid back over 15 years.

The latest economic stimulus bill allows for a true tax credit — one that doesn't have to be paid back. Too bad I bought my home in 2007, and I don't get to take advantage of this. Oh well.

At any rate, the bill still has to pass the Senate. However, if anything does get taken out of the bill, I doubt it will be the tax credit, since the GOP is all about the tax stuff.