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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Does anyone know if you can pay it back earlier (if you so choose)?
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Posted 1/12/09 10:16 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Posted by neener1211
Does anyone know if you can pay it back earlier (if you so choose)?
Good question...I was wondering the same.
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| Posted 1/12/09 10:37 AM |
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TreAnt427
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Member since 8/06 8652 total posts
Name:
Tracy
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Posted by Mrs. Patticakes
Posted by neener1211
Does anyone know if you can pay it back earlier (if you so choose)?
Good question...I was wondering the same.
That is a good question. It also says that you don't have to start paying it back until 2 years after you claim it. I was wondering if you can start paying it back the following year.
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| Posted 1/12/09 10:42 AM |
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sometimesmommy
Always in my heart.....
Member since 11/06 6686 total posts
Name:
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Lucky people to qualify for this. It seems like such a great incentive.
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| Posted 1/12/09 10:51 AM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: Will you claim the First-Time Home Buyer Tax Credit?
We are definitely still going to take it! 
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| Posted 1/12/09 11:48 AM |
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RocPin
Life's Beachy <3
Member since 2/08 6765 total posts
Name:
Heather
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Re: Will you claim the First-Time Home Buyer Tax Credit?
I will be closing on my house in two weeks and claiming this on my 2008 taxes. It will be going into a high interest savings account as an emergency fund. To me its a no brainer.
Message edited 1/16/2009 2:19:11 PM.
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| Posted 1/12/09 11:48 AM |
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jessbaby
My boys!
Member since 1/06 5292 total posts
Name:
Jessica
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Re: Will you claim the First-Time Home Buyer Tax Credit?
How do you go about doing this?
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| Posted 1/12/09 2:04 PM |
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banda61007
LIF Infant
Member since 7/07 296 total posts
Name:
Bonnie
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Re: Will you claim the First-Time Home Buyer Tax Credit?
sadly, we don't qualify, but if we did I would take it!! If you invest it in an account and earn interest on a zero interest loan, you are making money. If you pay off debt that has interest on it (such as student loans, or even credit card debt) with a zero interest loan, you are essentially saving all of the interest you would otherwise have to pay. Sounds like a good idea to me.
I think they are trying to incentivize people to buy homes, especially if they can qualify under tougher standards. The housing market can't begin to recover (or stop falling) if people who can afford to invest choose not to.
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| Posted 1/12/09 3:50 PM |
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bigspender
Back to school
Member since 4/07 1385 total posts
Name:
Irene
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Hell Yeah
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| Posted 1/12/09 5:14 PM |
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SpiceGirl
Dream big
Member since 1/06 2486 total posts
Name:
j
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Re: Will you claim the First-Time Home Buyer Tax Credit?
I wish I could...we closed in February 08. I wonder how they came up with that date range???
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| Posted 1/12/09 9:15 PM |
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LINewbie
Tigger the the Rescue!
Member since 8/08 5647 total posts
Name:
LB
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Re: Will you claim the First-Time Home Buyer Tax Credit?
We def. still are going to do this!!
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| Posted 1/13/09 5:27 PM |
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gforce
My other love!
Member since 5/08 1744 total posts
Name:
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Re: Will you claim the First-Time Home Buyer Tax Credit?
We are definitely claiming it.
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| Posted 1/13/09 7:08 PM |
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Disneygirl
Disney cruise bound!
Member since 5/05 8126 total posts
Name:
D
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Wow had no idea this existed, we will definitely be looking into it!
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| Posted 1/13/09 11:35 PM |
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miracline
LIF Adolescent
Member since 10/07 575 total posts
Name:
kayanna
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Re: Will you claim the First-Time Home Buyer Tax Credit?
if i could i would but I brought my house in 2007 
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| Posted 1/13/09 11:39 PM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: Will you claim the First-Time Home Buyer Tax Credit?
BUMP
Just read this on Yahoo News regading the new $825 billion stimulus bill
First-time homeowners also would get a break. The bill eliminates the requirement for them to repay a new $7,500 tax credit created in a housing measure that passed last summer.
Yahoo
It's at the very bottom of the article. Good luck! I hope it passes for you all. I don't qualify since I bought in 2007.
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| Posted 1/15/09 12:58 PM |
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seeinstarz
LIF Toddler
Member since 1/08 382 total posts
Name:
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Posted by VickiC
BUMP
Just read this on Yahoo News regading the new $825 billion stimulus bill
First-time homeowners also would get a break. The bill eliminates the requirement for them to repay a new $7,500 tax credit created in a housing measure that passed last summer.
Yahoo
It's at the very bottom of the article. Good luck! I hope it passes for you all. I don't qualify since I bought in 2007.
That would be amazing FREE money!!
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| Posted 1/15/09 1:09 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Posted by VickiC
BUMP
Just read this on Yahoo News regading the new $825 billion stimulus bill
First-time homeowners also would get a break. The bill eliminates the requirement for them to repay a new $7,500 tax credit created in a housing measure that passed last summer.
Yahoo
It's at the very bottom of the article. Good luck! I hope it passes for you all. I don't qualify since I bought in 2007.
I *heart* you!
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| Posted 1/15/09 1:11 PM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: Will you claim the First-Time Home Buyer Tax Credit?
WOW that would be amazing if we didn't have to pay it back!!! 
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| Posted 1/15/09 1:49 PM |
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RocPin
Life's Beachy <3
Member since 2/08 6765 total posts
Name:
Heather
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Re: Will you claim the First-Time Home Buyer Tax Credit?
WOW! That would really make my year! Thanks for posting this!!
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| Posted 1/15/09 2:22 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Re: Will you claim the First-Time Home Buyer Tax Credit?
OK..dumb question...We owned a co-op and bought our first house in Nov. Do we qualify as first timers still???
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| Posted 1/15/09 2:33 PM |
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bigspender
Back to school
Member since 4/07 1385 total posts
Name:
Irene
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Re: Will you claim the First-Time Home Buyer Tax Credit?
I just read that also and am so happy
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| Posted 1/15/09 2:37 PM |
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Katie111806
Team Pink!
Member since 12/06 5349 total posts
Name:
Katie
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Re: Will you claim the First-Time Home Buyer Tax Credit?
What is the date range for the credit? I thought we would qualify because we bought in July 08, but the new article posted says Jan-June?
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| Posted 1/15/09 7:26 PM |
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jessbaby
My boys!
Member since 1/06 5292 total posts
Name:
Jessica
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Posted by VickiC
BUMP
Just read this on Yahoo News regading the new $825 billion stimulus bill
First-time homeowners also would get a break. The bill eliminates the requirement for them to repay a new $7,500 tax credit created in a housing measure that passed last summer.
Yahoo
It's at the very bottom of the article. Good luck! I hope it passes for you all. I don't qualify since I bought in 2007.
I don't see it. 
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| Posted 1/16/09 1:36 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Will you claim the First-Time Home Buyer Tax Credit?
Posted by jessbaby
Posted by VickiC
BUMP
Just read this on Yahoo News regading the new $825 billion stimulus bill
First-time homeowners also would get a break. The bill eliminates the requirement for them to repay a new $7,500 tax credit created in a housing measure that passed last summer.
Yahoo
It's at the very bottom of the article. Good luck! I hope it passes for you all. I don't qualify since I bought in 2007.
I don't see it.
they updated the story 14 mintues ago..must have taken that last line out.
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| Posted 1/16/09 1:56 PM |
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