HR 3221 - Great for Buyers between April 8, 2008 and July 1, 2009

Housing & Economic Recovery Act of 2008:

  • $7500 tax credit from Federal Govt for all qualifed first time homebuyers purchasing between 4-08-08 & 07-01-09. 
  • Income limits: $150,000 married: $75,000 single but gets phased out if income is higher
  • 15 year loan at 0% interest where you get the cash up-front.
  • You pay back the $7,500 over 15 years at $500 per year: interest free.

Not all information you hear is negative.  The bottom line is that you dont' want to follow the herd.

People get rich in this country because they don't follow conventional wisdom.  You want to buy on the day when the news

is particularly negative. 

Now is that time....However this news is hardly negative. 

For more info, view my contact information. 

Cheers!

  • August 11 2008 - US
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Answers (8)

Not a bad sales pitch Mike but still spam..

  • August 11 2008
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ok sorry about that.

I thought it was good news for homebuyers.

 

:)

  • August 11 2008
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it is...just thought I would call you out a little..

 

If I qualified for some of these programs I would be looking around.

  • August 11 2008
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Have a great night... Thanks for reminding me.  Sometimes I get excited.

  • August 11 2008
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get your rest morgage mike...you will need it for tomorrows sale picth buddy! :)

  • August 11 2008
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For shame, Mike Smith!!! FOR SHAME!!!!!

 

You forgot to tell everyone that Real Estate double every 10 years and no one has ever lost money in Real Estate as long as they never have to sell!!

 

Your NAR membership is not irrevocable revoked!

  • August 11 2008
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not = now irrevocable revoked!

 

 

  • August 11 2008
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Profile picture for Mr Caveat

hmm, now if only we could qualify first time home buyers for loans, then we would be golden... stupid credit crunch. i could buy a house for cash but i cant get a loan... whats up with that?

  • August 11 2008
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