The Federal Tax Credits Blog

Question: Why are only 2008 New Home Owners getting the tax credit?

Please explain why new home owners from 2008 are the only ones to receive the stimulus tax credit for first time home buyers? 2008 home buyers experienced substantially lower interest rates and lower priced homes due to foreclosures and a failing housing market during this time. They also experienced buying their home with equity built in, however 2006-2007 home buyers will not be able to recoup their equity until this housing market upsides again. Who knows when that will happen? It would seem the home buyers of 2006-2007 would receive the tax credit in my eyes. I’m sure the research would show that there are more people that bought homes during this time period that have lost jobs and/or having problems paying their mortgage. The point should be made that if a family bought a house in 2008 then apparently times are not as hard as one would think for them…..

Answer: Just so you know, the tax credit IS NOT a way for the government to help the homeowners. Rather it is the government’s intention to use this tax credit to stimulate the housing market.

Obama’s Entrepreneur Problem

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