Comments on: First Time Homebuyer Tax Credit Extension (HR 3842)

By: Pete

Pete — Tue, 28 Dec 2010 11:56:30 +0000

Much to many many peoples discust,just now we are learning the tax credit of 7500.00 for 08 home purchase was not as told,a credit as it was called.It was an intrest free loan that must be repaid at 500.00 per year.Never would have bought the home if I wasn’t tricked into the 7500.00 “credit” 2009 ,so far,do not have to repay.Go figure.

By: Anonymous

Anonymous — Thu, 07 Oct 2010 21:04:27 +0000

so this says 2009 has the plan been extended

By: whos name

whos name — Thu, 08 Jul 2010 16:01:04 +0000

Hardly. If Obama wanted to help he would have done this in the first place. Not spending so much him self on his trips around the world and so much out to help other nations. And not rewriting bills that will do nothing but put people under gov rule. the Gov was built to help its people. not put there lives in danger and to the extent of paverty so other countrys can say hes a good man buy taking the shirts of his own people so they can rot in the sun and givn them to someone else. Things could be fixed easyly. but they dont want to lission to reason.

By: Cassie

Cassie — Thu, 08 Jul 2010 15:54:50 +0000

I agree. We got swindled out of the house we were living in that we were trying to buy. Lied to more like it that we could buy it. Now we a family of 3 are living in a 1 room bedroom in my moms place. We finally found a house that we have been praying for . but like any good deal it needs some work. that tax credit will pay for repairs. i want a safe place to live in. A JOE hunny with you surving your country and putting your life on the line to make this land a SAFE place to live you the BANKS should feel honored if not abligated to give you a lone. Of the Gov should have a housing plan for Vets when they come home. Like a welcome home bonue or something. Besides. Lets face it. Money isnt what it used to be.. Its nothing but numbers now. there is no paper value. its numbers with the banks and debet cards.

By: Liz

Liz — Tue, 15 Jun 2010 17:51:52 +0000

You are so right! Bank of America has been dragging my short out FOREVER. They haven’t even given an initial response to my offer. It should be an embarassing mess for them but they could care less. All of the short sale folks have full voicemail boxes and don’t return calls if you do leave a message. It’s craziness.

By: Gigi

Gigi — Tue, 01 Jun 2010 19:21:35 +0000

Any one know what is purchase agreement in a short sale transaction. Is the offer accepted by seller or the bank short sale approval.

I have an escrow transaction with BOA. BOA only give 19 days for a conventional loan. We applied extension and buyer’s down payment in escrow, loan doc. in escrow, BOA still rejected extension. BOA want to redo approval, if the approval came before June 30 and escrow close before June 30.

Could the buyer get $8000 credit?

By: Annonymous 1st time buyer

Annonymous 1st time buyer — Fri, 02 Apr 2010 13:44:29 +0000

You must have closed on time now, since the program was extended? We are awaiting a short sale that we started January 7th, so we are in the same boat you were in.

By: Annonymous 1st time buyer

Annonymous 1st time buyer — Fri, 02 Apr 2010 13:42:22 +0000

Good point. And on the other end the seller agents always try to get information out of us, including whether or not we qualify for the credit, and I know it has hurt our bargaining power.

By: cedric

cedric — Tue, 09 Feb 2010 10:14:39 +0000

last year i recieved 7500$ TAX CREDIT do i qualify for 8000$ because i purchased my home in 2009

By: Anonymous

Anonymous — Thu, 04 Feb 2010 03:53:01 +0000

Since I bought a home in 2008 and was able to take an advantage of the 7500 tax refund/ loan, which was great. I just feel that we should not have to pay back our loan, since this year you don’t have to it’s a credit. We have all worked hard to be able to buy a house so why not help us out with a credit too.

By: vicky

vicky — Wed, 04 Nov 2009 22:21:16 +0000

I think that we should all not worry about it being extended, because it’s more then likely going to be…I will put my 5,000 tax break on it….lol

By: vicky

vicky — Wed, 04 Nov 2009 22:14:15 +0000

Well I think that your realtor should of told you to stay away from short sales, mines did

By: lck

lck — Tue, 03 Nov 2009 15:02:03 +0000

I am a Realtor. The tax credit has been a great thing for the market and first time home buyers.
One reason some are in jeperdy of missing out is the banks. Most of the homes in this price range are short sale or REO homes. One of my first time buyers waited over 3 months for short sale OK. Two weeks later the bank withdrew the acceptance. The buyer had spent $1,500.00 +- getting the inspection, appraisel etc. and is now out of luck. If they don’t find another property this week they will not get a closing in time.
Don’t belive all that is being said about the help the banks will give. Trust me its not true! Bank of America has a Short sale dept. If you call the number they give, you will be placed on hold for hrs. If you try to leave a msg. you will then be told the mail box is full! I did thid four days in a row with the same result! So much for help.

By: Joe

Joe — Tue, 03 Nov 2009 15:00:32 +0000

I think that it should be extended because for the simple fact that we have been trying to take advantage of it since may, and still don not have a house, because the stupid banks want to turn this into bidding wars and drag it on. Especially in my case where I am using a VA loan, banks dont want to deal with something that will not get them any money up front, even though it is my right and I think I earned the right to use it defending my country, and them you have banks such as B OF A that wont even touch a VA loan just because they dont getn any money from me up front. So yeah it should be extended for those uf us that have been trying to take advantage…

By: Holly

Holly — Fri, 30 Oct 2009 00:56:23 +0000

I personally hope they extend it, only because we are finishing contruction on our home and with a new build you have to wait until your home is finished and loan is modified into a permanant loan before you can apply. We built this year instead of next because we wanted to take advantage of the credit and have been planning and building since March, so we are invested! We are set to finish next week but our bank is extremely slow with paperwork and we will be treading a very fine line trying to get everything in on time.

I do however, hope that people will use the credit wisely and not just blow it or think “oh well I am going to get it, so lets upgrade this and that” I have seen someone think like that and they ended up not qualifying for it and now are in terrible debt. Don’t spend money you dont have! We, are just going to put 75% into our mortgage and pay down and the rest in savings.