So, yes you will be entitled to a credit whether it's the $15K or the $7500 credit I don't know. The new $15K credit will eliminate the $7500 credit.
Jen Bowman, Broker Associate
What was the value of the home? What kind of financing did you get. Is this the first home you or your spouse, if married, have owned in the last 3 years. There are certain criteria you must meet to qualify for either credit. I am sure we will all learn more in the days to come. You stand a good chance of qualifying for the old credit if this is the first home you owned in the last 3 years but I don't know if the new credit could be used if you already closed your sale in December 2008. I'll do some more research and come back to this question.
: having or being a provision stipulating the termination or repeal of something (as a law, grant, or insurance coverage) on a specified date
Merriam-Webster's Dictionary of Law, Â© 1996 Merriam-Webster, Inc.