Stimulus package might help me…

[ErinH]

Out of this whole stimulus package, what’s really looking good is the $15k tax credit to home buyers.
http://money.cnn.com/2009/02/09/real_estate/tax_credit_near/index.htm

Big thing that caught me and stung:

Another difference is that the Senate credit is good for one year following its enactment and is not retroactive.

Well, now I’ll have to call my lender. See, right now we’re in a home construction loan; we haven’t applied for the 30year mortgage yet because the house hasn’t been built. I think we’d be fine, but I don’t know for sure. If I’m correct, and the fact that we’re not closing until May/June (after package has passed), we stand to get a nice stack of change to go toward our home.

*crosses fingers*

 

[pzaur]

Very cool!

-pat

 

[highfigh]

Out of this whole stimulus package, what’s really looking good is the $15k tax credit to home buyers.
http://money.cnn.com/2009/02/09/real_estate/tax_credit_near/index.htm

Big thing that caught me and stung:


Well, now I’ll have to call my lender. See, right now we’re in a home construction loan; we haven’t applied for the 30year mortgage yet because the house hasn’t been built. I think we’d be fine, but I don’t know for sure. If I’m correct, and the fact that we’re not closing until May/June (after package has passed), we stand to get a nice stack of change to go toward our home.

*crosses fingers*

It's great for those who have recently bought a house, or will soon. It doesn't do a damn thing for the rest of us, though.

 

[jamie2112]

Well it does nothing for me but it will help alot of families out there so its a good thing by me.

 

[lsiberian]

looks like we may need to look into buying a house. 15,000 off our taxes damn.

 

[gmichael]

We just bought ours 2 years ago. Missed by THAT much.

 

[Omega Supreme]

Slow down Erin. You forgot that the Dems have the majority and that Dems do not like tax cuts. See Below.

“Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said.”

But maybe you will get one of those Disk Golf Courses next to your new house

 

[ErinH]

According to CNN:
“First-time home buyers may qualify for a tax credit of up to $8,000.”

That's quite different from $15k as of yesterday afternoon.


bait and hook. they bait you with these tax breaks, then cut them out while everyone is fast asleep. wake up in the morning and *poof*.