$8,000 Home Credit! Vol. Need a Home & Money

[thugstareaper]

Does anybody know whats the status on this, I know it expires on Nov. 30, but has it been extended, sources like CNN say it has but want to know if someonehear different. http://money.cnn.com/2009/10/28/real_estate/homebuyer_credit/index.htm?postversion=2009102816

 

[los yankees]

They are starting a new bubble, eh?

 

[patmc13]

I am currently buying a house so if any1 has any info on this then it would be GREAT!?!?!?!

 

[youngtriz]

i thought the deadline was dec 1..... so if you still closed on the 30th your were still good?... my house is being built right now, they were supposed tofinish on nov, 20... they are a week and a half behind now.... plus with the holiday coming i think im not gonna get it in time.. im gonna flip +!!# if theydont finish... im gonna ask for them to buy me a fridge, washer and dryer, and LCD...

 

[jade0811]

I was told by a realtor that the deal has to be closed by dec 1st or you dont get the $8000.And I was also told that if the house isnt your main residence orif you move out of the house before 3 years,you have to pay the money back.

 

[youngtriz]

yeah if you sell the house before 3 years you have to pay the money back.... i wonder if you can close before the house is fully finished

 

[pharelfor3]

I wish I had money to cop a new crib.... one of these days

 

[denishot]

if you guys need any help, PM me, i'm an expert at FHA and conventional loans and I work at a bank that's been in business since 1929. I'll takecare of an NTer

Also, if we work quickly, I could still get you closed in time for the tax credit. My banks turn around time is around 30 days.

 

[knightngale]

I would rather let prices go down more than take the 8k bait from the government

 

[maza4ever14]

cant wait for my money. i know a lot of my friends that got their taxes amended to get the 8K now but they already blew through all of it quick.

 

[denishot]

Prices are down on average 20% from last year and rates are at around 50 year lows. If you wait for the price of houses going down, you're probably goingto end up paying that back with higher interest rates.

 

[knightngale]

Originally Posted by DenisHot

Prices are down on average 20% from last year and rates are at around 50 year lows. If you wait for the price of houses going down, you're probably going to end up paying that back with higher interest rates.

that has been said since late last year

 

[memphisboi55]

I'll wait.

 

[denishot]

Originally Posted by knightngale

Originally Posted by DenisHot

Prices are down on average 20% from last year and rates are at around 50 year lows. If you wait for the price of houses going down, you're probably going to end up paying that back with higher interest rates.

that has been said since late last year

Rates are as low as 4.75%, last year around this time they were still around 5.5% the time to purchase is now. $8000 tax credit is just icing onthe cake.

 

[reigndrop]

$8000 credit expires 11/30 I think, but they're extending it til next summer with something a little less.

 

[bjm5295]

Extended til April.

 

[i drink your milkshake]

got my obama money last week

8k stacks plus 100 something dollars in interest BURR BURR BURR!

 

[youngtriz]

Originally Posted by reigndrop

$8000 credit expires 11/30 I think, but they're extending it til next summer with something a little less.

says who? can you confirm this?

 

[gottagitdemjs]

I've been looking for a house for the past couple months because of the tax credit. I just spoke to my realtor two days ago. At this time, they have notreceived word on if the tax credit will be extended. If it is extended, it will probably be at a smaller maximum amount. Another thing about it is that youhave to spend $80,00+ to get the full $8,000. For example, if you spend $75,000, you only get $7,500. The main thing right now is that you need to have goneinto contract on your home by now to get closed by 11/30, because the late rush is making closing take over a month (unless you know somebody who can speed upthe closing process for you). I made an offer on a place a week ago, but I got outbid. I didn't want to get into a bidding war so I guess I'llcontinue to pay a landlord til I get a better paying job. My realtor kept telling me, don't buy a house just to get the credit!

 

[ddot7]

Originally Posted by DenisHot

if you guys need any help, PM me, i'm an expert at FHA and conventional loans and I work at a bank that's been in business since 1929. I'll take care of an NTer

Also, if we work quickly, I could still get you closed in time for the tax credit. My banks turn around time is around 30 days.

I'd like to see you close an FHA loan in anywhere near 30 days. +%##...at this point, I'd be impressed if you could close just about anyloan in 30 days.

Thankfully, the tax credit has been extended to the end of April, though it essentially allows for buyers to close by the end of June (as long as there werefully executed contracts by April 30th). There is also now a reduced credit of $6500 for buyers who have owned their current home for at least 5 years. Itwas agreed to in Senate today, great news.

I'm a Realtor but I will in all likelihood be buying a home in the very near future due to this news...as long as rates stay low.

 

[ddot7]

http://news.yahoo.com/s/ap/20091029/ap_on_bi_ge/us_homebuyer_tax_credits_5Senators agree to extendhomebuyer tax credit

 

[youngtriz]

i was reading and it seems like its in the works... not set in storn... well i hope it goes through..... i locked in my loan at 5%... good looking out thoughddot... so to all you loan officers or what not... if it is a new construction.... does the house need to be done on the day we close or can it be almost doneand i can close earlier?

 

[denishot]

Originally Posted by ddot7

Originally Posted by DenisHot

if you guys need any help, PM me, i'm an expert at FHA and conventional loans and I work at a bank that's been in business since 1929. I'll take care of an NTer

Also, if we work quickly, I could still get you closed in time for the tax credit. My banks turn around time is around 30 days.

I'd like to see you close an FHA loan in anywhere near 30 days. +%##...at this point, I'd be impressed if you could close just about any loan in 30 days.

Thankfully, the tax credit has been extended to the end of April, though it essentially allows for buyers to close by the end of June (as long as there were fully executed contracts by April 30th). There is also now a reduced credit of $6500 for buyers who have owned their current home for at least 5 years. It was agreed to in Senate today, great news.

I'm a Realtor but I will in all likelihood be buying a home in the very near future due to this news...as long as rates stay low.

I just closed an FHA loan on Monday, the guy initially got in contact with me on the 2nd of October.

 

[nevevans]

I purchased in February and got a great deal on a condo that I absolutely love. I saw the property in early January and closed February 5th. The process wasextremely smooth and quick. I locked in at 4.875 and took advantage of the credit. It sure came in handy.

 

[gboy1230]

Originally Posted by DenisHot

Originally Posted by ddot7

DenisHot wrote:

---

if you guys need any help, PM me, i'm an expert at FHA and conventional loans and I work at a bank that's been in business since 1929. I'll take
care of an NTer




Also, if we work quickly, I could still get you closed in time for the tax credit. My banks turn around time is around 30 days.

I'd like to see you close an FHA loan in anywhere near 30 days. +%##...at this point, I'd be impressed if you could close just about any
loan in 30 days.




Thankfully, the tax credit has been extended to the end of April, though it essentially allows for buyers to close by the end of June (as long as there were
fully executed contracts by April 30th). There is also now a reduced credit of $6500 for buyers who have owned their current home for at least 5 years. It
was agreed to in Senate today, great news.




I'm a Realtor but I will in all likelihood be buying a home in the very near future due to this news...as long as rates stay low.

I just closed an FHA loan on Monday, the guy initially got in contact with me on the 2nd of October.




hey where are you guys located???