Expanded First-Time Home Buyer Tax Credit Becomes Law

The rock and the hard place

Retired Military I finally moved back home to Alabama, I Live in home I bought in VA for 4 years 9 months. I lived their unemployed for 2 years going to school, never taking unemployement, paid my bills on time and mortage too. I saved money the last 10 years I was active duty. I had to wait for my home to sell due to the bad market, I was prepared and waited for a buyer. I got an offer that took an extra 1Ok out of my pocket, after doing the math figured it was time to throw in the towel and get back home. I knew the cost of living would help and houseing was alot more reasonable.

Now Im back in Alabama the market to me seems to be propped up and home sellers are paddign the housing cost from 5-15 K due to the tax credit. I did reaserch on a home I wanted checked tax records and value ratios and made an offer that was 3k below the asking price. The sellers sent backa counter offer of the original and 1/2 closeing cost. I told the realtor no thanks and I did not want to counter I made an honest up front offer. The response from the sellers and realtor was , but You will get back double that from the tax credit.

I wanted the house but I will never pay over faitr market for a home again.

I pray that it ends this time for good, so I can buy a home at a reasonable price after April.

Jimm of AL @ Feb 07, 2010 11:18:17 AM

once again we missed the cutoff

We purchased a house in July and we were in our previous home more than 5 years! We just can't catch a break! Why can't they make it concurrent with the First time home buyer credit. What's the deal with Nov to April purchases only???

OlaOla of PA @ Feb 04, 2010 13:11:02 PM

Fred> Navarre Florida

As usual the federal government has only included the few>I purchased my home in September of 2009 And still own my previous home as a rental>I lived in this home for over 4 years>This means I do not qualify for the home credit>We live in a democratic society>but only the few are chosen>Where does this Nov 6th deadline come from and the 5 year ownership come from> I am just about sick of our laws and the way our government eliminates the middle class!!!!

Fred of FL @ Jan 30, 2010 13:54:49 PM

children are a joy

i know thats right i agree with you truth of il im in that same boat but its all about to change with the grace of god.

chiquita skinner of GA @ Jan 28, 2010 16:50:40 PM

carlos in Miami

The best news we have heard in awhile in Miami, the foreclosure capital of the world. Keep it up so we can get this depressed economy going...

CARLITOS1777 of FL @ Jan 28, 2010 08:42:02 AM

Extention of the First Buyers Tax Credit

I did not have a high enough credit score to purchase now, but I am in process thru a legal firm, trying to raise my credit score, so I really hope the tax credit will be extended to the end of 2010. I know it has already been extended, but here's hoping that it will make it to the end of the year. I am 61, and would hope to be able to purchase a home insteady of paying outlandish rental fees. And in the event the purchase took place, it really would be great to get the credit of $8000.

Shirley of AL @ Jan 28, 2010 06:20:47 AM

Time and Chance Happens

My comment is simple. I'll be 49 this April if God permits and I've tried to buy property for years. I have no children and never owned property due to a bad divorce. I've always had to pay uncle sam and credit always fail short, but now I can gratefully quote the word of God, "Time and Chance happens to us all". It's my time and I'm taking advantage of everything that's being offered that I qualify for. There are many programs via the government aka our new president and it's happening for everyone. The greed of power players has placed us in this sad financial position but as President Obama said "Yes We Can" make changes and come out on top we are all Americans!!!

Truth of IL @ Jan 27, 2010 18:54:00 PM

heres your bottle

you whiny baby you .Smells like you pooped in your diaper.Maybe thats why you are whining .eeeewwwww !!!

Fart Sniffer of FL @ Jan 27, 2010 13:36:31 PM