Comments on: $8,000 First-Time Home Buyer Tax Credit

By: Larry

Larry — Mon, 01 Mar 2010 20:43:09 +0000

I purchased a Forclosed property for the specific purpose of letting my Son finance it and live there. I understand that this will not comply with the rules of the 8,000 credit because he purchased it from me? Is this correct?

By: Craig

Craig — Tue, 23 Feb 2010 21:50:06 +0000

you don’t “receive” money. It is a tax CREDIT. All he needs to do is claim it on his 2009 tax return. It then becomes a credit and should he be receiving a refund for his 2009 tax filing, he will then receive a check.

By: Bobby Hawk

Bobby Hawk — Fri, 19 Feb 2010 18:29:33 +0000

My son filed for this credit and it has been a royal headache since that day (jul 09), He has sent in his information 3 – 4 times and talked to the IRS numerous time, They have denied his claim twice for not receiving information although the data was faxed to the IRS as requested.
This is being used as a ploy to get young people to purchase homes, so it appears as though the housing market is picking up. I am only aware of one person that actually received money from the IRS. To data all they have done for my son is given him the run around, we are now 7 months later and still no money and still the run around from the IRS.
Get ready to dig in your heals if you decide to go this route to purchase a home. Also don’t bet on the money ever being delivered to you. At this point its just a ploy.

By: happy as heaven

happy as heaven — Wed, 10 Feb 2010 23:43:04 +0000

A Graig u rock. Thats how its told. Mad as hel. U need to get the f out if you dont like it. I pay my dues and if I get a tax credit it cause I deserve it. I put alot back into this country and its about time to get something back.

By: Craig

Craig — Tue, 26 Jan 2010 22:14:33 +0000

we’re already paying for it. We pay for it every time we get a paycheck. When was the last time you were not double-triple, or even quadruple taxed?
It’s easy for un-employed, disabled, part-time employee, or students to bad-mouth the system when they seem to have it all figured out. I have been a tax payer for 25+ years in this country. I pay taxes on my income, on everything I buy, every dividend I earn from MY earned money, every gallon of fuel I use to drive to work, and then once a year, Uncle Sam tells me I didn’t pay enough taxes, so I get to pay more. I bought a home so I can KEEP some of what I earned. if Uncle Sam wants to give me some extra money to fix up the house I bought at 70% off because some low-life, dead-beat non-paying scumb bag decided to vandalize the place before the bank(who shouldn’t have loaned them the money in the first place since they obviously couldn’t afford it)repossessed it, then that’s my prerogative. Just explain to me again why this is a bad idea? And explain to me where my social security money will be when I retire? Oh, and explain to me again why I have to pay MY loan back, when Joe who closed escrow 15 days later does not. Make sense, and I’ll listen. Spout off ignorance, and I’ll ignore you…next time.

By: mad as hell

mad as hell — Tue, 26 Jan 2010 17:52:07 +0000

Has anyone even thought of where the HELL is this money coming from to stimulate the economy? HELLO MORANS YOU ARE ADDING TO THE DEFICIET! Its doing nothing but hurting the economy than its helping, heck look at what Clinton did this is why we are in the situation we are in now! Whats going to happen when we cannot afford to pay this 8K to everyone who bought a house last year? OH I forgot we will just print more money! I forgot our president and government think we have a money tree! This just proves how stupid and ignorant people are to stuff! This is what happens when government makes rules and regulations on the housing industry but forget they know nothing about how it works or never have worked in it before they just think it sounds good an whose left to clean up there mess the TAX PAYERS! We the ones getting the shaft while they are making it sound like there doing you a favor!

By: Craig

Craig — Mon, 18 Jan 2010 21:33:34 +0000

Michael, I agree. If the man was elected in November, and decided to offer tax credits to “his” country’s citizens, then why start Jan 1, 2009? He wasn’t in office on that date any more than he was in November 08.

By: Craig

Craig — Mon, 18 Jan 2010 21:32:08 +0000

Yea, it’s funny until you find out you have to pay it back.

By: Craig

Craig — Mon, 18 Jan 2010 21:31:37 +0000

Amen Michael. Why should those who bought in 08 be treated any differently than those who bought 2 days later/2 weeks later/2 months later. We did the same thing. Hell, we took less money from Uncle Sam AND we have to pay it back.

By: Craig

Craig — Mon, 18 Jan 2010 21:29:38 +0000

you’re forgetting why this whole program exists, smarty. STIMULUS. The $7500 stimulated me. But not as much as the FREE $8000 would have. I am not complaining about the tax credit. I am complaining because of the date it was retro-active until (1/01/09). That date serves no political significance, economic significance, or interest rate significance. It was just another date on a made-up calendar. I don’t need it to roll back to anything other than a significant date, not year. The day the man was elected, is a significant date for “his” stimulus packages to roll back to, wouldn’t you say?