The Federal Tax Credits Blog

Posts Tagged ‘buyer credit’

Question: How long does it take to get the $8000 First Time Home Buyer Tax Credit back after ammending your return?

I li ve in Massachusetts if that makes any difference.
@ the kid – You can ammend your 2008 return to get the refund in 2009

Answer: 16 to 20 weeks. Amended returns cannot be e-filed. The credit for all purchases that closed after 11/7/2009 must be filed on paper, whether as an original or amended return.

Home Prices Fall to 9 Year Low

A Minneapolis homeowner knows first hand what new statistics show: nationwide home prices are at their lowest level in nearly nine years. Jim Blackwood bought his home in North Minneapolis in February of 2010. The home was in foreclosure and was condemned.

First time Home Buyers can get 8000

Question: is it a good time now to purchase a home with the recession?

Im a first time home buyer and yes i will be going into that program, but exactly how does it work. is it a good time to buy a home now? i heard on cnn that the housing cost has went down 4.8%. do i need good credit for the home buyers program. wouldn’t the interest rate be higher because of the recession. i have no clue about buying a house. do you know a good home buyers program in new jersey? do you know a good website that would give me good information. how do i go about this? what are some advantages and disadvantages of the first home buyers program? thanks

Answer: The FHA program is great for first time home buyers, you should really go to a local lender and have them explain it.

Before you buy a house, however, you should really consider why you’re buying one. If you have “no clue about buying a house,” it’s possible you’re not ready. One of the big causes of this crisis was people running into buy when they weren’t aware of the commitment they were getting into.

That’s not meant as an insult in any way, but home ownership is not always all its cracked up to be, and it is very risky. I work in a bank where we do a lot of home loans, and we’re seeing many, many people in huge financial trouble because they bought when they weren’t ready. Now, they’re not only losing the house they bought, they’re losing their down payment they saved for, their credit score, and any chance of owning a home in the next 7 years most likely.

Also, home prices should continue to slide through mid-2009 at least, but it is also dependent on your location. In Seattle, where I am, we had super high home price appreciation, and so now we’re having higher-than-average depreciation on those prices. Atlanta or Dallas may well be less affected, for example. Hope this helps!

Nine O’Clock

PM blames the selling of national oil reserves. Loan prices set to follow suit. Yesterday OMV Petrom hiked gasoline and diesel oil prices by RON 0.09 per liter, the most expensive fuel type reaching a price of RON 5.96 per liter according to company data.

OBAMA HOME MORTGAGE STIMULUS PLAN IN ARIZONA 1 FEBRUARY 18 2009 CONCISE

Question: I am a first time, veteran, prospective, home buyer in Georgia. ?

Due to a past divorce, I have a low credit score. Low debt and excellent income. What are my best choices for buying a home, including forclosures such as va and HUD or FHA?

Answer: Because you are a veteran you are entitled to special loans, talk with the veterans administration and ask them to put you in touch with someone.

Lower Demand Pushes Beazer Homes To Loss In Q1 – Update

Homebuilder Beazer Homes USA Inc. Tuesday posted a loss for the first quarter, as home sales and orders declined on lower demand. In addition, the year-ago results were favored by a tax benefit. Further, homebuilding revenues slid 47.3 percent, reflecting the sales and orders decline and higher cancellation rate. The Atlanta, Georgia-based company, however, expects a seasonal improvement in …

First Time Home Buyer

Question: First Time Home Buyer Tax Credit?

I closed on my home October 30, 2009. Today’s date, July 13th. I still have NOT received my tax credit. My home was $90k which entitled me to the full $8k. I first sent the papers in November when I called to check the status 4 weeks later they hadn’t received the paperwork so I then resent it certified mail. Well in April they sent me a letter saying they needed more proof of address so I sent them my bank statement (which also showed utilities, phone & cable all paid in my name from this address), check stubs, & mortgage statement. Whenever I call now they say its still “in process” has anyone else had this problem, can anyone offer me advice what to do now? Its been 8 months going through whats supposed to be a 12-16week process.

Answer: Sounds like a government program alright.

And these are the same people who want to run health-care.

As for what to do, Sounds like you have done everything. You could always consult with an attorney, or even contact major media in your area to do a story on this so called “Obama housing program” not working. The attention might get your credit faster.

China Plays Europe Card

Whether Americans and Westerners in general like it or not, the Chinese have become and will remain the key drivers to many economic and financial market developments, progress, and averted wreckage.

45 day plan to move in to the home you always dreamed of..wmv

Question: I’m buying a home on contract from my Dad, am i eligible for the homebuyers tax credit? Not a firstime buyer.?

Am I eligible for the home buyers credit of $6500 even if I am not a first time buyer? I read where there is a buyers credit for any new home buyer if you have a contract.

Answer: Dear P: Look at IRS Form 5405 instructions and your dad is a close relative and that nixes the deal.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more Errol Quinn Enrolled Agent

Los Angeles Acting Schools and Coaches

The following is a list of Los Angeles–area stage and film acting schools, teachers, and coaches organized by category and alphabetically.

Collier Swecker on First Time and Repeat Home Buyers Tax Credit