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  • moem
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Any news for the fools who bought late 2008 when we were first encouraged to jump start this market?

Any news on paying back the $7500?
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June 17 2010 - US
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Nothing has changed. You are still required to pay back the $7,500 in yearly installments as part of your taxes.
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June 17 2010
Those people who purchased a home under the first tax credit are not fools.  No one anticipated another tax credit would be coming.  There has been no change in that tax credit, the $7,500 must be paid back.
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June 18 2010
Profile picture for hpvanc
Hindsight is 20/20, and yet realtors still can't acknowledge it.
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June 18 2010
They were fools for buying before the crash had run its course. Ditto recent buyers.

Some of us have been on here predicting this outcome for multiple years, others remain blind.
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June 18 2010
Profile picture for lynrosect
Hey!!!

I am a recent buyer, March 2010.  I bought a house that was just about to be foreclosed on and I got the tax credit cuz it was raised to my income level for 6 months.  So I bought a house for 300K on the Connecticut shoreline in a 400K+ neighborhood (in 2008).  Granted the zestimate mean is now squarely at my purchase price; however, my purchase price lowered the value in the neighborhood and I still have the 8k government buffer.  I'm happy with my purchase and my government hand out.  I looked for over a year and was ready to pounce on my perfect property for the perfect price.  If I am a fool, I am a happy fool.  I am happy I saved for the down payment, happy I kept looking, happy I didn't offer too much in a declining market, happy I did the research on my own thus I did not require a buyer agent, happy with my 4.75% interest rate and happy one of my many low ball offers hit the perfect 'house about to be foreclosed on' timing.  Yupper a happy fool!  The seller's put 20% down so they got out of the house with money in thier pockets instead of a big foreclosure goose egg. I'm even happy for them!  I'll be a happy fool this weekend when I am playing in my pool and hot tub!
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June 18 2010

No different news on paying back the tax credit.  Best advice is to enjoy your home as a place for you to live.  Homes are no longer and probably should not have been a place to get rich quick.  You may need to stay in your home a littel longer than people had gotten used to but look at it as your home and make it the best it can be. 

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June 18 2010
Profile picture for jal74
Enjoy repaying your US Treasury loan.  A tax credit would imply you received a credit.  You got nothing of the sort.  You received a $7500 no interest 10 year loan from the US treasury.

Regards
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June 23 2010
 
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