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Re: Senators agree to extend homebuyer tax credit
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Senators agree to extend homebuyer tax credit
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soliva14
Regular Visitor
Posts: 7
Registered: 06-16-2009
Message 1 of 38
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WASHINGTON - Senators have agreed to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers. The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November. A spokeswoman for Senate Majority Leader Harry Reid said senators agreed Wednesday to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years. A congressional aide said the tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes. The aide, who spoke on condition of anonymity, was not authorized to publicly discuss the deal.
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10-28-2009 03:13 PM
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Re: Senators agree to extend homebuyer tax credit
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I_hate_realtors
Regular Contributor
Posts: 314
Registered: 06-18-2009
Message 4 of 38
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Aristocrat wrote:
So when did or does the 6500 credit START? Dec 1?
My question exactly. I am due to close escrow on 11/29, I will delay it by a day for $6,500.
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10-28-2009 05:18 PM
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Re: Senators agree to extend homebuyer tax credit
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Z-W
Regular Contributor
Posts: 161
Registered: 01-23-2009
Message 5 of 38
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... while offering a reduced credit of up to $6,500 to [b]repeat buyers[/b] who have owned their current homes for at least five years.
Heh. "Repeat buyers". Sounds a lot like "repeat offenders"...
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10-28-2009 05:21 PM
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Re: Senators agree to extend homebuyer tax credit
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Gobolts
Contributor
Posts: 18
Registered: 09-17-2009
Message 8 of 38
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This is such crap!! real estate is one place where the free market should be allowed to work. The terms of buying a place are pretty straight forward... Find a place...get a loan... make the payments. Those who need this 8K or 6.5K to get into buying a place have no place owning a place. The worse part is that these are MY generations tax dollars that are being used to fund this crap. Most people who are 40-50 wont be around when the loans that we are issuing for this credit needs to be repayed. This is the good old NAR at work here and shows exactly what is wrong with country. Let the prices fall!! (This is coming from someone who is closing on a place in 3 weeks).
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10-28-2009 09:28 PM
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Re: Senators agree to extend homebuyer tax credit
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Jazzman
Regular Contributor
Posts: 359
Registered: 02-12-2009
Message 10 of 38
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I_hate_realtors wrote:
Aristocrat wrote:
So when did or does the 6500 credit START? Dec 1?
My question exactly. I am due to close escrow on 11/29, I will delay it by a day for $6,500.
The credit runs from Dec. 1, 2009 to April 30, 2010, with an additional 60 day period to close escrow. (So end of April to sign contract, end of June to close escrow)
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10-29-2009 01:05 AM
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