By Sally Lynch
UNDATED – U.S. State Senator Debbie Stabenow has introduced legislation that would help first-time home buyers afford a house. The First-Time Home Buyers Credit Act of 2007' would allow people who are within a 25-percent or lower tax bracket to use a tax credit to close with a lender. Individuals could claim up to
$3,000 and married home buyers up to $6,000 at the time of closing. The tax credit can either be claimed in the year after the purchase of the home, or it can be transferred directly to a lender at closing.