Comments on: First Time Home Buyer Tax Credit Extension and Expansion a Done Deal by Friday?

By: michelle

michelle — Sun, 08 Nov 2009 16:48:51 +0000

To bad the $6500 does not date back to the beginning. I owned my home for 10 years and my husband (who was a first time buyer) and I just gave up on trying to qualify for the first time buyers. Since we had been married (5 years), he did not qualify just because I had bought a home. I have not been able to find anything to show we could qualify.

We just closed on our new house Aug 30th. The $6500 would go a long way in fixing a few things in the house and eliminating the rest of our debt.

By: DL

DL — Fri, 06 Nov 2009 23:08:46 +0000

Okay, I did some searching and this is what I found:
” Here’s what you have to do to get your benefit:

1.Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract by April 30, 2010 and close by July 1, 2010.

By: DL

DL — Fri, 06 Nov 2009 22:42:49 +0000

Annemarie, THANK YOU!! I am very happy to hear that!

By: Annemarie

Annemarie — Fri, 06 Nov 2009 04:13:26 +0000

Alex, see my last post for your answer about the income limits…hope your closing is later in the week!

By: Annemarie

Annemarie — Fri, 06 Nov 2009 04:10:24 +0000

DL, good news (maybe)… I read the bill with the final amendments, and the effective date for the $6500 is no longer Dec. 1st. It now reads “shall apply to residences purchased after the date of the enactment of this Act.”
Sooooooo, as long as Obama signs it before you close, you can get the credit.

By: DL

DL — Thu, 05 Nov 2009 21:57:21 +0000

If I wait to close, I lose the mortgage, the house and all of the out of pocket money already paid. As much as I want the money, it is not worth it.

By: Dennis Norman

Dennis Norman — Thu, 05 Nov 2009 20:37:47 +0000

Homebuyer Tax Credit Update: The House of Representatives just passed the bill by a vote of 403 to 12. It is now headed to the President for his signature..he is expected to sign today or tomorrow which then puts the extension and expansion of the tax credit into law. I have complete details as well as links to the bill in a post at:

http://www.realestateindustrynews.com/real-estate-market/home-buyer-tax-credit-extension-update/

By: Kelster

Kelster — Thu, 05 Nov 2009 17:22:07 +0000

I am a little confused and hope that someone can clarify this for me. I purchased my home in February 2008. Do I qualify as a first time homebuyer?

Thanks,

By: Alex

Alex — Thu, 05 Nov 2009 16:51:35 +0000

When will the changes in the income limits be effective if the bill is passed today in the house and signed by the President by the end of the week? I am closing next week. Would the changes apply to me?

By: Al Wright

Al Wright — Thu, 05 Nov 2009 14:42:37 +0000

We bought our home and closed on 05-30-2009. I am not a first time home buyer. Do I qualify for the $6500.00