Wow! Is this really happening? There's a possible $15,000 tax break for home buyers in the new stimulus package and the Senate has oked it at this point. Current law gives a $7500 tax incentive for first time home buyers but this new proposal would allow a tax credit of 10 percent of the value of new or existing residences, with  a $15,000 limit.

This pending bill will help get the foreclosure and swelling inventory of homes off the market and will help stabilize home prices. Congress will make their decision in about ten days on this bill so stay tuned.