$8,000 Tax Credit - Extended through 2010? (escrow, approval, properties, contract)

[Sensimilla]

Don't be mad that you didn't get the tax credit, that's not a reason to go bashing someone else who wants it.

[NatasNJ]

Originally Posted by Sensimilla

Don't be mad that you didn't get the tax credit, that's not a reason to go bashing someone else who wants it.

You should go back and read the posts. No one is bashing someone who uses the credit. They are bashing the credit itself.

And people can get mad that THEIR tax dollars are going to programs like this which is basically free money for people to buy houses.

[jas1999]

The last article I read on the extension said the most likely version to be passed would be one that is only for military and civil servants.

[VictorBurek]

Here is a link to a Wall Street Journal article that covers both sides, why it should be and why it shouldnt be extended. Weigh In: Should Congress Extend the First-Time Buyer Tax Credit? - Developments - WSJ

[Norsky1]

Originally Posted by NatasNJ

You should go back and read the posts. No one is bashing someone who uses the credit. They are bashing the credit itself.

And people can get mad that THEIR tax dollars are going to programs like this which is basically free money for people to buy houses.

Well said. I wasn't bashing it, but people want it to be extended to fit thier schedule, when it has been offered for the whole year now. If you want it, get it during the scheduled time frame. I wish I could have got it, but we were buying a house anyway and we already own another property.

Good luck with whatever you do.

[texdav]

Its pretty much on the backburner now it seems. Like cash for clunkers its doutful with the money needed for unemployment expentions in the coming years IMO.Congress is getting very nervous about the defciit now and reduced revenues.

[Rakin]

Originally Posted by Sensimilla

It's a tax credit, not chipping in to buy my house.

If you don't like it, don't pay your taxes, or move somewhere else.

Now I'm going to knock you just a little so don't take it too personal.

This is what's wrong with about 40% of Americans today. They don't see it as waste or a needless tax. They believe the programs are free Govt money.

I plan on purchasing a home in March 2010, then using the tax credit to help pay for my wedding in October 2010.

I'm sorry, I thought you were going to buy a house anyway and use the tax money for a wedding. I'd prefer not to help pay for your wedding.

Have a nice day.

[aneftp]

Actually I've got a great idea for extending the tax credit.

Since the majority of the $8K tax credit went to prop up "lower end homes" those in the $100-300K range, the government should give an instant $15K tax credit if you purchase a mid range home from $400-800K and eliminate the first time homebuyer provision.

I'm joking on this.

Seriously we all these bailouts, cash for clunkers tax credits, home buyer credits, 20-50% off home purchases, what we have here is a sense of entitlement.

We should just stop it.

This country is broke.

The government and all the elected officials need to be ashamed of themselves. They keep on wanting to spend. They don't care because at the end of the day, when they are out of office, most of them will have guaranteed retirement plans with guaranteed health care (depending on how many number of years they serve).

Congress is dealing with the Health Care bill. They are trying to rush it through but it's going to be held up and some idiot on either side of the US House or Senate will try to add a housing tax credit extension during that time.

Right now, there's really no public support for extending the tax credit. The only people lobbying for it are the groups with the most to gain. People have known about the tax credit for more than 6-7 months. They could have shopped for a home during that time.

It's like going to the dept store for a clearance sale. You kinda of think about buying something because there's a promotion. But the promotion ends on Sunday. You wait till Monday and ask if they can extend the promotion longer.

[Omaha Rocks]

Originally Posted by Sensimilla

It's a tax credit, not chipping in to buy my house.

If you don't like it, don't pay your taxes, or move somewhere else.

You don't understand it, do you?

New homebuyers to get $8,000 cash back - Feb. 16, 2009

[CaliforniaSoN]

I found this great link that talks about the home buyer tax credit extension H.R. 2801.

UPDATE: $8,000 Homebuyer Tax Credit Extension – October, 2009 | (http://www.californiateachersandemployeeshomeloanprograms .com/update-8000-homebuyer-tax-credit-extension-october-2009/ - broken link)