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Old 02-05-2009, 08:29 AM
 
3,627 posts, read 12,416,101 times
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I think it will have to be your primary residence and you cannot have owned a home in the past three years. Isnt that how the old one worked.
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Old 02-05-2009, 08:38 AM
 
14,817 posts, read 18,832,006 times
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Quote:
Originally Posted by grannynancy View Post
I think it will have to be your primary residence and you cannot have owned a home in the past three years. Isnt that how the old one worked.
I think is a lot more than 3 years.
I could be wrong, but I have in my mind that they said something like 10-15 years.
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Old 02-05-2009, 08:51 AM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,101,113 times
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Actually they are extending this to anyone who buys a home this year. The old tax "credit" was for first time buyers only, which is technically defined as someone who has not owned in the last 3 years.
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Old 02-05-2009, 09:21 AM
 
50 posts, read 183,961 times
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Quote:
Originally Posted by Daddys///M3 View Post
Actually they are extending this to anyone who buys a home this year. The old tax "credit" was for first time buyers only, which is technically defined as someone who has not owned in the last 3 years.
theyre not extending the credit, i called the office and it only applies to people who buy AFTER the bill is passed
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Old 02-05-2009, 09:35 AM
 
27 posts, read 99,522 times
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Default can we get 15000$ this tax year and use it as down payment

or after closing the home.
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Old 02-05-2009, 09:36 AM
 
14,817 posts, read 18,832,006 times
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Quote:
Originally Posted by pleasesaythe4th View Post
theyre not extending the credit, i called the office and it only applies to people who buy AFTER the bill is passed
Give me exact dates, is that yesterday (Feb. 4th, 2009)?
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Old 02-05-2009, 09:38 AM
 
Location: Way up high
14,072 posts, read 20,162,120 times
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It would be extra special if they retrofit the dates. We purchased brand new house on 5/20/08. First time homebuyers here..
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Old 02-05-2009, 10:12 AM
 
Location: West, Southwest, East & Northeast
3,446 posts, read 6,454,002 times
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I don't know if this is factual or not but...per Senator Johnny Isakson, Republican of Georgia, a former real estate broker, who was the prime sponsor of the homebuyer credit, said"

"The tax credit would give buyers 10 percent of the price of a primary residence bought within one year, up to $15,000, and is intended to stabilize plummeting home prices, which caused a wave of foreclosures and led to the near collapse of the financial system as Wall Street firms wrote down billions in mortgage-backed assets."

The Silver Fern: $15,000 Home Buyer Tax Credit

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Old 02-05-2009, 10:27 AM
 
Location: West, Southwest, East & Northeast
3,446 posts, read 6,454,002 times
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And another link saying the same thing (bought within one year): Home, car buyers would get stimulus break - UPI.com
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Old 02-05-2009, 10:28 AM
 
1,340 posts, read 3,234,432 times
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Quote:
Originally Posted by himain View Post
It would be extra special if they retrofit the dates. We purchased brand new house on 5/20/08. First time homebuyers here..
Retrodating it defeats the purpose of the bill. It is to encourage new people to buy. You already bought.
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