Comments on: Quick! Go Buy a New Home! New $6,500 Homebuyer Tax Credit for Existing Owners and $8,000 for First-Timers Gets Extended http://ptmoney.com/2009/11/05/6500-homebuyer-tax-credit-existing-owners-8000-first-timers-extended/ Real Personal Finance for a Life Without Limits! Fri, 19 Mar 2010 21:18:51 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Joseph http://ptmoney.com/2009/11/05/6500-homebuyer-tax-credit-existing-owners-8000-first-timers-extended/comment-page-1/#comment-6427 Joseph Thu, 21 Jan 2010 11:22:28 +0000 http://ptmoney.com/?p=4256#comment-6427 I am looking at purchasing a home before this deadline. I have heard some people that says they have been waiting for over 4 months on the check and have yet to receive it. I was wondering if all cases are like this and what are ways to speed up the process? I ask this because I will need that return to pay off my truck so it will be easier for me and my fiance to afford the mortgage payments and other utility bills that come with owning a home. Thanks for any help you can provide I am looking at purchasing a home before this deadline. I have heard some people that says they have been waiting for over 4 months on the check and have yet to receive it. I was wondering if all cases are like this and what are ways to speed up the process? I ask this because I will need that return to pay off my truck so it will be easier for me and my fiance to afford the mortgage payments and other utility bills that come with owning a home. Thanks for any help you can provide

]]> By: Anthony Eller http://ptmoney.com/2009/11/05/6500-homebuyer-tax-credit-existing-owners-8000-first-timers-extended/comment-page-1/#comment-5682 Anthony Eller Fri, 27 Nov 2009 21:47:36 +0000 http://ptmoney.com/?p=4256#comment-5682 My wife and I are going to take advantage of the $6500 we are down sizing.We are moving to the next Parish over in Louisiana taxes will be cut in half and insurance cut in half also.I hear you should file revised 2008 income tax return? What will this do for me instead of using $6500 credit on 2009 tax return? We will be driving 12 miles further each day a little inconvenient. Thank you I look forward to your reply Tony My wife and I are going to take advantage of the $6500 we are down sizing.We are moving to the next Parish over in Louisiana taxes will be cut in half and insurance cut in half also.I hear you should file revised 2008 income tax return? What will this do for me instead of using $6500 credit on 2009 tax return? We will be driving 12 miles further each day a little inconvenient.
Thank you I look forward to your reply
Tony

]]> By: John Cannata http://ptmoney.com/2009/11/05/6500-homebuyer-tax-credit-existing-owners-8000-first-timers-extended/comment-page-1/#comment-5485 John Cannata Mon, 09 Nov 2009 22:04:28 +0000 http://ptmoney.com/?p=4256#comment-5485 Well put together. This was something we have been waiting for and it was finally signed off on Friday. I personally haven't put together a posts with the details, but I need to for my readers as well. Anyway, I have read your post before and thought I'd finally take a moment to respond. Well put together. This was something we have been waiting for and it was finally signed off on Friday. I personally haven’t put together a posts with the details, but I need to for my readers as well.

Anyway, I have read your post before and thought I’d finally take a moment to respond.

]]> By: $6500 Tax Credit for Existing Homeowners Who Purchase New Home Signed into Law, Not Retroactive, $8000 New Homebuyer Credit Extended http://ptmoney.com/2009/11/05/6500-homebuyer-tax-credit-existing-owners-8000-first-timers-extended/comment-page-1/#comment-5477 $6500 Tax Credit for Existing Homeowners Who Purchase New Home Signed into Law, Not Retroactive, $8000 New Homebuyer Credit Extended Mon, 09 Nov 2009 12:33:45 +0000 http://ptmoney.com/?p=4256#comment-5477 [...] Quick! Go Buy a New Home! New $6,500 Homebuyer Tax Credit for Existing Owners and $8,000 for First-T... from Prime Time Money [...]

[...] Quick! Go Buy a New Home! New $6,500 Homebuyer Tax Credit for Existing Owners and $8,000 for First-T… from Prime Time Money [...]

]]> By: Mr. Not the Jet Set http://ptmoney.com/2009/11/05/6500-homebuyer-tax-credit-existing-owners-8000-first-timers-extended/comment-page-1/#comment-5451 Mr. Not the Jet Set Fri, 06 Nov 2009 18:16:19 +0000 http://ptmoney.com/?p=4256#comment-5451 Certainly, if you are in the market for a house, a $6500 or $8000 tax credit is not unwelcome. What I don't like about this, is the same as what I didn't like about Cash for Clunkers - they will drive people to buy large items that they otherwise would have no business doing. I would hope that the new sensitivity around the lending industry would keep the majority of that from happening. The trouble comes when you are in the market for a house because of the credit. It's like buying stuff at the grocery store just because you have a coupon. Certainly, if you are in the market for a house, a $6500 or $8000 tax credit is not unwelcome.

What I don’t like about this, is the same as what I didn’t like about Cash for Clunkers – they will drive people to buy large items that they otherwise would have no business doing. I would hope that the new sensitivity around the lending industry would keep the majority of that from happening.

The trouble comes when you are in the market for a house because of the credit. It’s like buying stuff at the grocery store just because you have a coupon.

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