Is it really less if you are single?? This is the first I have heard of that. I was planning on buying soon anyhow and will take advantage regardless. Also, i'd heard conflicting information on whether it would be a tax credit to be paid back at % over 15 years vs a tax credit that would not need to be paid back. What did it turn out to be?
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i could be wrong on the 4k wasn't in an article was somebody's comments seems like alot of confusion
more strings attached i'm reading
if you don't stay in it for 3 years you have to pay it back as well so if your job relocates you and you gotta move or whatever in next 3 years you gotta pay it back i guess?
the original tally for the 15k one with less strings attached was estimated to cost 35.5 billion the new one only estimated to cost 3.7 billion
they scaled it back big time in the compromise between the house and senate
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http://www.thestreet.com/story/1046...it-scrapped-from-stimulus.html?cm_ven=GOOGLEN
A buyer who hasn't owned a principal residence in the three years prior to purchase, and they must also meet the personal income restrictions. They also must own the new home for at least three years in order to avoid paying back the tax credit. The homes must be purchased between January 1 and August 31 to qualify for the credit.
more strings attached i'm reading
if you don't stay in it for 3 years you have to pay it back as well so if your job relocates you and you gotta move or whatever in next 3 years you gotta pay it back i guess?
the original tally for the 15k one with less strings attached was estimated to cost 35.5 billion the new one only estimated to cost 3.7 billion
they scaled it back big time in the compromise between the house and senate
----------------
http://www.thestreet.com/story/1046...it-scrapped-from-stimulus.html?cm_ven=GOOGLEN
A buyer who hasn't owned a principal residence in the three years prior to purchase, and they must also meet the personal income restrictions. They also must own the new home for at least three years in order to avoid paying back the tax credit. The homes must be purchased between January 1 and August 31 to qualify for the credit.
chances our average median home prices will decrease 8k in the next year or so
so net gain will be zero anyway
these guys are fuckin morons lets spend taxpayer dollars to give people an 8k tax credit for buying a home that needs to continue to fall in value on the near term....
just idiocy....
i know alot of realtors and home builders are really pissed right now though....they were really cheering up the 15k one....and pissed its now this one with less strings attached
so net gain will be zero anyway
these guys are fuckin morons lets spend taxpayer dollars to give people an 8k tax credit for buying a home that needs to continue to fall in value on the near term....
just idiocy....
i know alot of realtors and home builders are really pissed right now though....they were really cheering up the 15k one....and pissed its now this one with less strings attached
If one is worried about inflation then buying a home with a mortgage is a good way to protect yourself to some extent.
I don't agree with this kind of government giveaway, but of course I will take advantage. I am glad they made it for first-time home buyers rather than just any home buyer as I heard might be the case.
I don't agree with this kind of government giveaway, but of course I will take advantage. I am glad they made it for first-time home buyers rather than just any home buyer as I heard might be the case.
people that bought a home at higher prices and are stuck or foreclosed are kinda pissed right about now
@)
home prices aren't going anywhere for a while
they'll hit rock bottom and stay flat for a while no V shaped bounce IMO
it was a humongous bubble....lenders aren't gonna be handing out no money down, subprime front loaded with low rates shit unless government forces them to i suppose....those days are over
no rush to buy a home got plenty of time
Yeah, I actually looked last summer and decided to wait another year as I thought the housing market would drop some more. I don't think it will get a whole lot better than this summer and it is also just the right time for me. If the price remains flat for a couple years I can live with that.
Nothing I have read so far says anything about it being half if you are single.
It sounds like it won't need to be paid back.
Only thing I don't know is if it's a refundable credit or, if not, if the credit can be taken over more than one year. Also, when exactly you must close the deal by....some reports say December...some August.
It sounds like it won't need to be paid back.
Only thing I don't know is if it's a refundable credit or, if not, if the credit can be taken over more than one year. Also, when exactly you must close the deal by....some reports say December...some August.
as far as I understand it ...it is a no-interest loan that you HAVE TO PAY BACK
and the best part is, I, a foreigner that bought a house in the US can even take advantage of this!
you can read the details here
http://www.federalhousingtaxcredit.com/faq.php
and the best part is, I, a foreigner that bought a house in the US can even take advantage of this!
you can read the details here
http://www.federalhousingtaxcredit.com/faq.php
