To amend the Internal Revenue Code of 1986 to provide a tax credit to individuals who pay their mortgages on time.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow individual taxpayers who are liable for one or more principal residence mortgage payments which are due in 2008 or 2009 a $5,000 tax credit for making such payments on time. Requires a statement from the mortgage lender that the taxpayer was not delinquent in making any payments.…