February 2009 
There are 2 blog entries for February 2009.
More Details $8,000 Home Buyer Tax Credit, IRS Filing Rules
Saturday, February 28th, 2009 at 1:05am. 1785 Views, 26 Comments.
Mortgage rates have gone up a tick, as noted below. This is due to some of the inflation fears that are starting to brew, which in turn pulls the bond market down, and raises interest rates. The inflation fear comes from the stimulus packages, and what their overall costs may be down the road. However, the economy is still stumbling, so the bond market may still be the “safe haven” for investors as we move along day to day. So, rates are going to stay volatile for some time yet. That's actually a good thing! We just need to get the buyers buying.
Okay, a little clarification on the $8k tax credit from last week. The IRS has ruled that if the home was purchased in 2008 then the $7,500 tax credit, which has to be repaid over 15 years, will apply. If a…
Details On The $8,000 Credit To Home Buyers
Saturday, February 21st, 2009 at 12:32am. 1589 Views, 10 Comments.
I have added a link to the CNN article regarding the $8,000 first time home buyer tax credit that was announced on Wednesday, just in case you hadn't seen it. It definitely is a step up from the plan that took effect last July. It's actually a revamp of that program which extends the purchase dates to November 30 th, and takes away the repayment of the “credit” and makes it an actual tax credit instead of a 0% interest loan. The credit does have to be repaid if the buyer sells the home in the first three years, after that there's no penalty. Something tells me we could see some problems down the road (the less than 3 year road) when folks try to sell, and home prices haven't increased enough, but they've already spent the $8K. Déjà vu, or vous,…
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