{[ First Time Homebuyer Stimulus Package Vol. +*@$ you, PAY ME! ]}

[i drink your milkshake]

Originally Posted by TheSwoosh

This could help out a lot! I just gotta get my down payment up!

that's where I am...

 

[youngtriz]

Originally Posted by JBug88

Originally Posted by YoungTriz

^^ damn i also have 2 kids... we are trying to get a house this year.... short sales FTL....

I'm in the same boat dude. short sales suck. but the wife is deadset on this house. We should have actually closed escrow last week. We funded on Monday and was supposed to record on Tuesday and when they ran the final title report, it came up as the seller declared bankruptcy. so we are dealing with that as well. if the damn short sale approval hadn't taken so long, we probably would have been good..

-J-

we are waiting to hear from the bank... and our realtor is on vacation... her ******ed boss never picks up his phone.... so we dont even knowwhere we stand right now... so we can see if you should just move on and put in another offer somewhere else.... but man i love this house though....2,700sqft.. 5br.. 2.5bath..granite counter tops 215k.... hella small backyard though

 

[jbug88]

that's ridiculous dude. where's that?
good luck and I sincerely mean that.
mine is 3 bd, 1 bth, 1,100 sq ft on a 5,800 lot and quite a bit more expensive. L.A. FTL.

-J-

 

[dendanskesimon]

I saw a 2 bedroom 2 bath house in Miami Gardens for 14,900! %+@@ was busted though, and now miami gardens is on the deadliest cities list....

but I could cop that and get like 1500, and I would have enough cash to pay it all off hahaha but I got some sense, so I wont do it

btw, everytime i see this thread i think the title says homeBREWER lmao

hope Im gettin a deal like this when Im old enough to be in the market, seriously doubt it though

 

[youngtriz]

Originally Posted by JBug88

that's ridiculous dude. where's that?
good luck and I sincerely mean that.
mine is 3 bd, 1 bth, 1,100 sq ft on a 5,800 lot and quite a bit more expensive. L.A. FTL.

-J-

15minutes outside of the portland, OR area... your weather during the winter fall >> ours

... when we went to disneyland in may... my family was mad hot... wearing shortsand t's... we saw people over there still wearing jeans and hoody's

.. i told my wife they must be from cali...
but yeah i hope you and your family enjoy the house... have fun with the money and remodeling.. i can bet yall been watching a lot of HGTV and DIY TV

cuz i know we damn well do

 

[taz92]

So can I still file for this, since I havent filed my taxes yet b/c they owe me, and get it this year?

 

[doublejs07]

Originally Posted by YoungTriz

Originally Posted by JBug88

Originally Posted by YoungTriz

^^ damn i also have 2 kids... we are trying to get a house this year.... short sales FTL....

I'm in the same boat dude. short sales suck. but the wife is deadset on this house. We should have actually closed escrow last week. We funded on Monday and was supposed to record on Tuesday and when they ran the final title report, it came up as the seller declared bankruptcy. so we are dealing with that as well. if the damn short sale approval hadn't taken so long, we probably would have been good..

-J-

we are waiting to hear from the bank... and our realtor is on vacation... her ******ed boss never picks up his phone.... so we dont even know where we stand right now... so we can see if you should just move on and put in another offer somewhere else.... but man i love this house though.... 2,700sqft.. 5br.. 2.5bath..granite counter tops 215k.... hella small backyard though

that's messed up YT....you and your wife should look at other options as far as realtors.....when I bought my house 3 years ago, my broker wasavailable 24/7 until the deal was done....you need people who will take you seriously.

 

[johnniem2nd]

For people who recently purchased a home or are considering buying in the next few months, there are several different ways that you can get this federal taxcredit even if you've already filed your 2008 tax return! Qualifying first-time homebuyers who close on a home between January 1, 2009 and November 30,2009, could receive up to $8,000, or $4,000 for married individuals filing separate. [size=+1]IRS.gov[/size]

 

[idealapotheosis]

-It phases out for incomes between $75,000 to $95,000 for single and $150,000 to $170,000 for couples.

Does this mean that if I make 80k I'm screwed? Or am I just able to claim less?

 

[fromthatown]

Originally Posted by YoungTriz

Originally Posted by JBug88

Originally Posted by YoungTriz

^^ damn i also have 2 kids... we are trying to get a house this year.... short sales FTL....

I'm in the same boat dude. short sales suck. but the wife is deadset on this house. We should have actually closed escrow last week. We funded on Monday and was supposed to record on Tuesday and when they ran the final title report, it came up as the seller declared bankruptcy. so we are dealing with that as well. if the damn short sale approval hadn't taken so long, we probably would have been good..

-J-

we are waiting to hear from the bank... and our realtor is on vacation... her ******ed boss never picks up his phone.... so we dont even know where we stand right now... so we can see if you should just move on and put in another offer somewhere else.... but man i love this house though.... 2,700sqft.. 5br.. 2.5bath..granite counter tops 215k.... hella small backyard though

That's a beautiful home. I'm putting in the same offer for a house half that size right now in Kali. It's so cut throat right now withthese damn buyers. Each house has like 7 to 11 offers. And some of these people are throwing away keys to the house because they don't want other people tolook at it. The damn banks are putting up these houses at a low price, and it's starting bidding wars. I feel you on how frustrating it is. Even though Iput down an offer, I still have to keep looking because these damn sellers are playing games. I'm not getting my hopes up until the key is in my hands.Good luck man, I hope you get that house.

 

[villansfinest]

Originally Posted by IdealApotheosis

-It phases out for incomes between $75,000 to $95,000 for single and $150,000 to $170,000 for couples.

Does this mean that if I make 80k I'm screwed? Or am I just able to claim less?

means you CLAIM LESS...

it phases out... from
8k to zero
when yolur income is
less than 75,000 to more than 95,000

go do the math.

 

[mytmouse76]

i wish everyday i was done with school and working right now so i could buy a place...does this apply to condos too or just houses?

i wanna start small...i'm def. buying a place before i get a new car after graduation...

 

[pacmagic2002]

Me and my fiance are looking for a home.......But i dont think they will let us buy one until we are officially married.

Anyone know what the deal is on something like this??

Also, im going back to school this fall...........anyone know the best place to look for first time home buyers with downpayment assistance??



Only thing making this house search soo hard is the DP thats required for buying a house and also the fact that our wedding is going to be about 3-4K when itsall said and done.

I told her we should rent for 1 year and look while we do that, but this tax credit is too good to pass up

 

[idealapotheosis]

Originally Posted by villansfinest

Originally Posted by IdealApotheosis

-It phases out for incomes between $75,000 to $95,000 for single and $150,000 to $170,000 for couples.

Does this mean that if I make 80k I'm screwed? Or am I just able to claim less?

means you CLAIM LESS...

it phases out... from
8k to zero
when yolur income is
less than 75,000 to more than 95,000

go do the math.

Well that sucks because I'm over 95k and will be a first time home buyer...

 

[youngtriz]

Originally Posted by FromThaTown

Originally Posted by YoungTriz

Originally Posted by JBug88

Originally Posted by YoungTriz

^^ damn i also have 2 kids... we are trying to get a house this year.... short sales FTL....

I'm in the same boat dude. short sales suck. but the wife is deadset on this house. We should have actually closed escrow last week. We funded on Monday and was supposed to record on Tuesday and when they ran the final title report, it came up as the seller declared bankruptcy. so we are dealing with that as well. if the damn short sale approval hadn't taken so long, we probably would have been good..

-J-

we are waiting to hear from the bank... and our realtor is on vacation... her ******ed boss never picks up his phone.... so we dont even know where we stand right now... so we can see if you should just move on and put in another offer somewhere else.... but man i love this house though.... 2,700sqft.. 5br.. 2.5bath..granite counter tops 215k.... hella small backyard though

That's a beautiful home. I'm putting in the same offer for a house half that size right now in Kali. It's so cut throat right now with these damn buyers. Each house has like 7 to 11 offers. And some of these people are throwing away keys to the house because they don't want other people to look at it. The damn banks are putting up these houses at a low price, and it's starting bidding wars. I feel you on how frustrating it is. Even though I put down an offer, I still have to keep looking because these damn sellers are playing games. I'm not getting my hopes up until the key is in my hands. Good luck man, I hope you get that house.

man..... i work the night shift... so when the price got adjusted later in the night....i saw it and put in a bid for the house the nextmorning... we were the 1st offer, we offered what they were asking for because you cant beat the size and quality of the house for 215k....but the selleraccepted another offer for more... so we dont exactly know where we are at... but damn i really want this house... ( dream house ).... can yall pray for ourfamily???.... i just want to know as soon as possible because we cant put out multiple offers on houses.... so its frustrating having to only do 1 offfer at atime and the bank takes a long time also...

 

[mytmouse76]

Originally Posted by mytmouse76

i wish everyday i was done with school and working right now so i could buy a place...does this apply to condos too or just houses?

i wanna start small...i'm def. buying a place before i get a new car after graduation...

yeah i wanna know too...

 

[pacmagic2002]

Originally Posted by pacmagic2002

Me and my fiance are looking for a home.......But i dont think they will let us buy one until we are officially married.

Anyone know what the deal is on something like this??

Also, im going back to school this fall...........anyone know the best place to look for first time home buyers with down payment assistance??



Only thing making this house search soo hard is the DP thats required for buying a house and also the fact that our wedding is going to be about 3-4K when its all said and done.

I told her we should rent for 1 year and look while we do that, but this tax credit is too good to pass up

Any info at all??

 

[theswoosh]

YT: Thats a nice looking place. After days of searching I finally found a home in Seattle that is reasonably priced at $399K but with many homes in the areaand seattle in general, we think we can easily talk the seller down to around $350K. The home has been on the market for 255 days so with some negotiating Ithink we can make a deal. I just started the loan application process and things look promising at this point, all though the wife may have to find a new jobto make more money.

 

[johnniem2nd]

Originally Posted by pacmagic2002

Originally Posted by pacmagic2002

Me and my fiance are looking for a home.......But i dont think they will let us buy one until we are officially married.

Anyone know what the deal is on something like this??

Also, im going back to school this fall...........anyone know the best place to look for first time home buyers with down payment assistance??



Only thing making this house search soo hard is the DP thats required for buying a house and also the fact that our wedding is going to be about 3-4K when its all said and done.

I told her we should rent for 1 year and look while we do that, but this tax credit is too good to pass up

Any info at all??

I never heard of that. You can buy the home without being married. They have different Loans like a FHA loan where you only have to put down 3.5% down.

 

[i drink your milkshake]

Originally Posted by mytmouse76

Originally Posted by mytmouse76

i wish everyday i was done with school and working right now so i could buy a place...does this apply to condos too or just houses?

i wanna start small...i'm def. buying a place before i get a new car after graduation...

yeah i wanna know too...

you quoted yourself.

But the great thing about being in the dmv...you don't need a car. Down in here in Texas I NEEDED one

I think I'm well on my way to owning property though....

 

[fromthatown]

To all the NTers that are first time home buyers, I recommend you go to a first time home buyer's class in your own city. I went to one in Oakland, and letme tell you, they give out plenty of information on what to do and what not to do. They talk about FHA, and ARM. They go into detail with REO, short sales, andauctions.


I went to one because the city will let you borrow money for a down payment or more money for leverage to the purchasing price. You have to take a 2 day classto earn a certificate that proves you understand what the city is offering. It's all free. The catch is you have to be low income and have documents toprove it. But don't be discourage by the word low income. You can make 50k a year with your money in 401k and might be able to qualify. VERY VERYinformative. If you don't plan to borrow from the city, just go to hear what they have to say. I got a note book full of information that I have neverheard from people. Go to your city hall and ask them, the federal government is giving your state money to be home buyers. I didn't qualify because Ididn't have all my documents for my income. But it's still not a waste of time. The first time home buyer center in Oakland even gave me ratings onwhich lender is more reliable and "honest."

With all the foreclosures, I feel lucky that I didn't get caught up. I almost did. It's a trip. During the peak of the real estate market, I couldborrow 550k with an adjustable loan with bad to ok credit. Now I can't even get a 250k loan. The lenders and investors are scared now, and they are makingsure their loan doesn't end up like all these foreclosures. I'm glad that it has gotten strict. It has made it safe for first time home buyers. If youdon't have a good credit score like me, go for an FHA loan. Don't go for any adjustable rate mortgages. That's what has gotten us into theseforeclosures in the first place.

And to Young Triz, your family and any other NTer that is trying to get a first home, your thoughts will be in my prayers. Just look at it like this though.You're going to get outbid, or the loan process might delay you from making an offer. Keep your head up though, if the house is meant to be yours, then itwill be yours.

 

[youngtriz]

^^^ thanks.... yeah my wife and i went to a class like that but we made too much money... we dont make a lot of money... just a little bit more then whatqualifies for their program.... we are doing a FHA loan that only requires 3% down... we have a good credit score now... and our lender got us at 5.25% ....with the way the market is right now, i survived a layoffs, and we grew out of our apartment... so we decided to go ahead and get a house.... but yeah.. justlike you said... if its meant to be its meant to be... i tried not to fall in love with that house... because i didnt want to get my hopes up and end up beinglet down.. but man i can just see my family in that place... my wife and i always seem to take things slow with making big purchases.... and we usually end upgetting good deals... so im just hoping for the best... i even have the picture of that house for my back round on my computer just for motivation.... but alsothe best of luck to you too... i hope you find what you want and will be happy with your purchase...

 

[youngtriz]

i realtor just got back from her 1 week vacation and she says she still didnt hear from the bank yet... she says we just have to play the waiting game

 

[theswoosh]

What's up NT I got some info your you all.

In some states if you have a section 8 voucher you can apply for a special home purchasing program where the govt. will pay 70% of your mortgage for 15 years.Essentially the catch is you cant buy a home in a major city but check for local restrictions.

In Seattle there are a few really good programs available for first time home buyers:

BECU has a multiple programs where they will offer interest rates as low as 3.5%

HomeSight
www.homesightwa.org
(206) 723-4355
HomeSight is a nonprofit community development corporation that promotes affordable homeownership opportunities through homebuyer education and financialplanning, buyer purchase assistance loan underwriting and origination, and new home construction. Through private and public partnerships, HomeSight providespurchase assistance to qualified first-time home buyers in the form of a low interest loan, and potential borrowers may access up to $70,000 in downpaymentassistance.

Homestead Community Land Trust
homesteadclt.org
(206) 323-1227
Homestead Community Land Trust (HCLT) is a membership-based, nonprofit community housing development organization that creates affordable homeownershipopportunities by removing the cost of land from the cost of buying a home, and protects the affordability of those homes permanently for future generations ofSeattleites. Through the HCLT "Advantage" program, your household may receive up to $100,000 at 0% interest and no repayments to help pay for a home,in exchange for keeping the home affordable at resale to the next income-qualified buyer.

HomeTown Home Loan Program from HomeStreet Bank
(206) 628-0207
The Hometown Home Loan Program is a partnership between the City of Seattle and HomeStreet Bank. Participating employers, City of Seattle, University ofWashington, Fred Hutchinson, Seattle Cancer Care Alliance, and other organizations, offer their employees access to free homeownership education, savings onpurchases & refinances, and access to downpayment assistance programs.

House Key Plus Seattle from the Washington State Housing Finance Commission
(206) 287-4413
House Key Plus Seattle provides downpayment assistance in the form of a low-interest loan, and must be combined with the House Key State Bond below-marketinterest rate first mortgage for first-time homebuyers. Qualified buyers may receive up to $60,000 in downpayment assistance.

Hope this helps.

 

[pacmagic2002]

Maaaaaan..........I remember signing up for section 8 when i graduated from high school in 2002.......you know how long the list was?????

I didnt get a card in the mail until 2006, saying there was a meeting to get the voucher...........I had already been living in an apartment for about 3 yearsaround that time.