8000 tax credit category archives

No doubt that it’s a buyer’s market.  Home values have taken a hit in most markets throughout the nation and mortgage rates are relatively low. Plus, the government has offered up an $8,000 first-time home buyer tax credit, further sweetening the pot for any first-time home buyer out there.
The $8,000 tax credit has been a [...]

This past January, Georgia Senator Johnny Isakson proposed a $15,000 tax credit for home buyers as part of the stimulus package that was winding its way through Congress. But, days later, when the stimulus package was actually passed, the $15,000 proposal was reduced to an $8000 tax credit for first-time home buyers.
Well, guess what? Isakson [...]

The Federal Housing Administration today announced that first-time home buyers can use the $8,000 tax credit sooner rather than later, as long as they’re using an FHA-insured mortgage and can come up with a down payment of 3.5% (before help from the tax credit). According to the seattlepi.com, home buyers can use the credit to [...]

At Tuesday’s National Association of Realtors Real Estate Summit held in Washington, D.C., Housing and Urban Development Secretary Shaun Donovan tipped his hand at some changes to the original $8,000 tax credit proposal for first-time home buyers that the Obama Administration announced in February.
Here’s the buzz: The feds may allow the $8000 tax credit to [...]

Update (11/10/09): The $8000 tax credit for first-time homebuyers was extended through April 30, 2010 and more people are included, including a $6500 tax credit offered to homebuyers who have lived in their current residence at least five years and who want to “trade up” (buy a new primary residence).
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Original post:
President Obama just signed the [...]

Details have not yet been ironed out, but the proposed $15,000 tax credit amendment in the economic stimulus package that was sponsored by Sen. Johnny Isakson has been trimmed down to an $8000 tax credit, according to the NY Times. This is all very preliminary until the bill is actually signed, but here is the [...]

Terms of the newly-negotiated economic stimulus package have been reached, but initial reports are suggesting that the proposed $15,000 tax credit for homebuyers has been wiped out. It’s not yet clear if some sort of $7,500 tax credit may remain and it is not known yet whether it needs to be repaid or not. This [...]

Treasury Secretary Tim Geithner’s Financial Stability Plan that was unveiled on Tuesday was met immediately with skepticism as stocks dropped by 200 points.
James Ellman, President of Seacliff Capital in San Francisco, said: “Investors want clarity, simplicity, and resolution. This plan is seen as convoluted, obfuscating, and clouded.”
According to Fortune, Geithner’s plan states:

Stress-test the banks — [...]

Last week, I wrote about my own, personal $15000 tax credit conundrum. You see, after my husband and I learned about the $15,000 tax credit in the works, we thought 2009 might be the year to jump into the housing  market. We’re renters and we’ve sort of been on the fence lately, and the news [...]

Here are more details on the proposed $15,000 home buyer tax credit, an amendment which is part of the now-proposed $900 billion economic stimulus package working its way through Congress. This is directly from the Web site of Georgia Senator Johnny Isakson (R), the prime sponsor of this bill (who, by the way is a [...]