On July 30, 2008 the American Housing Rescue and Foreclosure Prevention Act of 2008 was signed into law. This housing rescue plan is intended to stem the tide of foreclosures and to shore up Fannie Mae and Freddie Mac. The legislation contains several provisions which are highlighted in this article.
This article explains, among other items, who gets rebates, how they are calculated, how higher income can reduce or eliminate a rebate, and what, if anything extra, you'll need to do to get one.