2010 January | first time home buyer

January 26, 2010

What kind of benefits can a first time home buyer receive?

4 Time Champ asked:

Especially the way the economy is. I know the prices are down, but is there special programs available to 1st time home buyers?
I live in Texas if that matters.

Thanks

Beth

Comments (2)

January 21, 2010

Why Did The Democrats Today Oppose Extension On 8k First Time Home Buyer Tax Credit?

Filed under: Politics — Tags: Banks, First Time Home, First Time Home Buyer, First Time Home Buyer Tax Credit, Majority Democrats, Republicans, Time Home Buyer, Unemployment Benifits — admin @ 9:03 pm

Marxist Radicals R Destroyers asked:

The republicans pushed for it, but majority democrats – did not.
They wanted to extend unemployment benifits another 6 weeks- but not the home buyer tax credit? Why do you think that is? Don’t they want the banks to be saved?

Thelma

Comments (4)

January 18, 2010

First time home buyer tax credit and Owner Financing?

Filed under: Credit — Tags: Borrowing Money From, Buyer Credit, Buying A Home, First Time Home, First Time Home Buyer, First Time Home Buyer Tax Credit, Grandmother, Owner Financing, Paying Taxes, Time Home Buyer — admin @ 2:13 am

~~LaLaLa~~~ asked:

We are buying a home for the first time but we are owner financing it. This home is his grandmother’s home and we are actively in the process of setting up the owner financing with her and the bank. Since we aren’t borrowing money from the bank but paying to his grandmother and the house will still be in our name and we will be paying taxes on it, are we still eligble for the first time home buyer credit signed yesterday as long as the process is completed by the end of the year?

Sarah

Comments (1)

Obama’s First Time Home Buyer Stimulus

Filed under: Mortgage — Tags: Amount Of Money, Borrowers, Buying A House, Custome, Economic Stimulus Package, Financial Crisis, First Time Home, Luxuries, Present Value, Rate Of Interest, Recession, Sudden Outbreak, Surplus Money, Tax Credits, Time Home Buyer — admin @ 12:13 am

Suzan Smith asked:

Obama’s first time home buyer stimulus is for those people who had postponed buying a house due to the sudden outbreak of recession in late months of 2008. The US President Barack Obama and his team of administrators have planned and signed 2009 economic stimulus package and there are many sections and programs under this mega stimulus package. The first time homeowners are in fact the tenderest section of borrowers and they have lot of fear in their mind before and after possessing the loan.

However first time homeowners need to be very careful while seeking loan and believe the reliable sources only. The financial crisis has left everyone with postponed dreams, shopping and spending even on useful accessories. There are people who have postponed the renovation or modification in their house, or if they had previously planned to buy a house, they have postponed that too. But the government wants to help the first time homebuyers to come forward and buy their dream house. And for this they are offered very fewer rates of interest and the tenure for repayment is also increased.

Obama’s first time home buyer stimulus has much more to offer than just lower rate of interest to the first time homebuyers. This policy aims to give tax credits to the first time homebuyers who purchased their house between January 1, 2009 and December 31, 2009. The tax credit has $8,000 at its upper limit and is 10% of the present value of your house. This will help the homeowner save a lot as tax benefits and they will have considerable amount of money left to spend on other liabilities, responsibilities or mere luxuries.

The people when relieved of the financial tension and with some money left in their pocket every month, will go out and spend them in the sectors of their needs and interests, boosting up the country’s economy in return. So the main intension of the Obama government was to allow people have surplus money in their hands, which will directly affect the customer-spending percentage. This will help money stimulate in different areas of the market and society, which ultimately will increase employment opportunities in various sections and departments too.

The first time home buyers stimulus has fixed the income limitations of the buyer which is a very good sign so the less privileged class will get the benefit of the stimulus plan.

Colleen

Comments Off

January 13, 2010

Obama’s First Time Home Buyer Stimulus – Lucky Break For First Time Buyers

Filed under: Mortgage — Tags: Advantage, Economy, Financial Assistance, First Time Buyers, First Time Home, First Time Home Buyer, Foreclosures, Housing Market, Lucky Break, Money, Refundable Tax, Sizeable Chunk, Stimulus, Tax Break, Time Home Buyer — admin @ 2:08 am

Suzan Smith asked:

The economy is terrible; the housing market as well. Foreclosures are at an all-time high and the market value of most homes has dropped to the point many homeowners do not even have equity any more. It is a very difficult time to sell a house.

But, it is a GREAT time to buy a house, and if you qualify, Obama’s First time Home Buyer Stimulus may help put you in that position! You may be able to take advantage of this stimulus program to purchase your first home and get a great deal of home for your money.

This program provides a 10% tax break for buyers who have never owned a home before or who have not owned a home for three years. The maximum amount is $8000. This stimulus money is in the form of a tax break, but you don’t have to owe that much in taxes to take advantage of it. It is a refundable tax break.

This money is not a loan; you do not have to pay it back if you stay in the house for at least three years. That is called recapture.

The income requirements for this assistance is in the form of a cap; a single purchaser cannot make more than $75,000. A couple who are purchasing together cannot have an income that exceeds $150,000. This home has to be your primary home.

To receive assistance from Obama’s First Time Home Buyer Stimulus, the home has to be purchased between January 1, 2009 and December 1, 2009. You should find out if you are able to take advantage of this great opportunity to not only get a sizeable chunk of financial assistance, but to be able to buy a home at a time when home prices are at their lowest in many,many years.

Gladys

Comments Off

January 10, 2010

can i buy a home with the credit score of 554 with the first time home buyer grant before Dec. 1, 2009?

Filed under: Renting & Real Estate — Tags: Credit Score, First Class, First Time Home, First Time Home Buyer, First Time Home Buyer Grant, Time Home Buyer — admin @ 7:11 am

Goldengirl37 asked:

im attending the first time home buyer classes and i have already attended the first class, now i have to go back for a one on one counsel at the end of the month. but i affaid that i wouldnt have enough time to buy a home before the deadline december 1, 2009 and i have to get my credit score up from 554 which is really bad.

Jonathan