The revised stimulus plan increases last year’s $7,500 tax credit to $8,000 for homes purchased after January 1, 2009, and eliminates its repayment.  It is available only to first-time homebuyers, which is described as those who haven’t owned a house during the past three years.

Whoop-te-do.

Here’s the link to the press release:

http://www.finance.senate.gov/press/Bpress/2009press/prb021209.pdf ^[1]

IMN is reporting “a restoration of higher loan limits for Fannie Mae, Freddie Mac and FHA loan guarantee programs appears to have made the cut.”   But I didn’t see it in the press release.