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Old 05-16-2009, 10:28 AM
 
Location: Knoxville
1,155 posts, read 3,388,986 times
Reputation: 372

Advertisements

Great news for first time buyers, now the $8,000 credit, can be applied
to the purchase, and used as down payment!






http://go-to.realtor.org/r/18QPH7/JERAK/5C5K53/8D752/CYJ2C/VU/t
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Old 05-16-2009, 11:09 AM
 
Location: The Conterminous United States
22,584 posts, read 54,280,916 times
Reputation: 13615
This is fantastic news! I totally missed it.

There are a lot of people out there that are working class that always paid their bills, worked their whole lives, but could never dream of owning a home, due to the downpayment. They shied away from the liar loans and adjustable rate mortgages because it was too risky. Now is their chance.

I'm talking about my husband and me, obviously, but there are so many more out there. This is the chance! FHA is a wonderful program. We went through them and it was a breeze.

We've had some tough times with jobs and health issues, but we always pay that mortgage. I'd go without everything to pay it. To finally have a home, after 46 years, is breathtaking. I wake up every morning and can't believe we live here and that a landlord isn't going to come by and harass us.

If my words resonate with you, really think about buying a home. Prices are very good, and once the economy takes off Knoxville real estate will be one of the first to take off. There are just too many people chomping at the bit to move here.
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Old 05-16-2009, 12:22 PM
 
Location: Lee's Summit, MO
592 posts, read 2,134,896 times
Reputation: 214
Dang, that's a great deal.

Wonder what they'll do to help those of us out that have been responsible all along and just missed on it.

I'm not bitter.
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Old 05-16-2009, 02:09 PM
 
Location: Knoxville
1,155 posts, read 3,388,986 times
Reputation: 372
Hey Napster, thats part of the joy we get to experience, and thanks for sharing. Time to get people moving, to take full advantage.
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Old 05-16-2009, 02:09 PM
 
Location: The Conterminous United States
22,584 posts, read 54,280,916 times
Reputation: 13615
What kind of help do you need? I'm being serious. If you need to have your mortgage refinanced it could be possible.

I got an enticement last year. It's $7,500, but I have to pay it back without interest. These folks don't need to pay it back. Why? Because the economy is even worse, this year.

They weren't handing out money when everyone and his brother was hopping on the bandwagon, hoping to make a killing.

Now that's not you, mjb62676, nor is it a lot of other folks. Most people, really. But life is a crapshoot, now, ain't it. Believe me, brother, it was the first time I got in the line and when it was my turn they didn't close the window on me. Forty-six years is a long time to wait while you quietly toil.

And I bought a very modest, 53-year-old house. A ranch. Not even my style. I couldn't be happier. I've fought bitter my whole life. It's not worth it.
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Old 05-16-2009, 02:10 PM
 
Location: The Conterminous United States
22,584 posts, read 54,280,916 times
Reputation: 13615
Quote:
Originally Posted by oldmanbob View Post
Hey Napster, thats part of the joy we get to experience, and thanks for sharing. Time to get people moving, to take full advantage.
That's why I want to be an agent. I love houses and I love people. My agent couldn't wait to get to my closing to see my face. She thought I might faint!
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Old 05-16-2009, 05:47 PM
 
Location: Lee's Summit, MO
592 posts, read 2,134,896 times
Reputation: 214
Quote:
Originally Posted by hiknapster View Post
What kind of help do you need? I'm being serious. If you need to have your mortgage refinanced it could be possible.

I got an enticement last year. It's $7,500, but I have to pay it back without interest. These folks don't need to pay it back. Why? Because the economy is even worse, this year.

They weren't handing out money when everyone and his brother was hopping on the bandwagon, hoping to make a killing.

Now that's not you, mjb62676, nor is it a lot of other folks. Most people, really. But life is a crapshoot, now, ain't it. Believe me, brother, it was the first time I got in the line and when it was my turn they didn't close the window on me. Forty-six years is a long time to wait while you quietly toil.

And I bought a very modest, 53-year-old house. A ranch. Not even my style. I couldn't be happier. I've fought bitter my whole life. It's not worth it.

I'm gonna have over 250K in student loans in the very near future...and he's wanting to socialize healthcare. I didn't do this for the money, but I also didn't do it to be forever in debt to the government either. They've got to figure something out.

I do think it's great they are helping people out. It used to be WAY too hard to buy a house..then it got WAY too easy.

And, we're all paying for it.
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Old 05-16-2009, 07:15 PM
 
596 posts, read 2,876,701 times
Reputation: 202
If I'm reading this correctly, this is only for people using an FHA loan? I know it said qualified FHA lenders, but I'm assuming that means people using FHA loans.
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Old 05-16-2009, 07:35 PM
 
1,989 posts, read 4,465,698 times
Reputation: 1401
This proposal may have been killed:

Not so soon - Boston Real Estate - Boston.com

I've seen a few news articles saying they can't get confirmation on it. Keep an eye on the news so you know what to plan for.
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Old 05-16-2009, 08:46 PM
 
Location: Austin
7,244 posts, read 21,808,870 times
Reputation: 10015
The proposal was completely killed a couple of days ago. You cannot obtain a LOAN for FHA financing. And getting the $8k for the downpayment before you buy is a LOAN.
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