$7500 First Time Buyer Credit

[popowich]

There is a new tax credit of $7500 for first time home owners.

Now is a great time to get a house with this credit and low rates before they start going up!

-Raymond

[popowich]

Is there anyone here considering buying their first home that has questions about it?

I'm sure there is a lot of info in the members here if we're asked a few questions.

-Raymond

[Kaos]

I'm still living in my first house. I've rented up until 4 years ago. I though the buying process was stressful and frustrating...well actually, I should say the FINDING a house to buy was.:banghead: Still not 100% sure what we signed on closing day LOL left that up to my husband and lawyers....don't ever do as I do and not read things:innocent:

[Rebecky]

we went through a first-time homebuyers program through Rural Opportunities (http://www.ruralinc.org/English/housing_services.html#Homeowners) last year. We know what we need to do to start the homebuying process. Unfortunatley, a month after we completed the program, my husband got really sick and ended up on and off (more on) disability for 11 months. It was a financial disaster!
Now were just starting to get back on our feet again. So, it'll be a while before we are ready.
It was a great, informative program, I highly recommend it in addition to this credit. The program also qualifies you for other grants, depending on your area.

[DougCentercode]

This is a great credit. I have owned a home for 18 years now and the financial benefits are great. The mortgage interest claim on taxes every year makes a huge positive impact on my refund!

Doug

[yukon]

shoot me more info on this . . . Divina and I are hoping to buy a house within the next 12 months or so . . . we'll have to see what if any cash is left after the crazy expensive wedding this November . . .

[popowich]

Here is a site with more information on the $7500 First Time Home Owner Tax Credit (http://www.federalhousingtaxcredit.com/).

-Raymond