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New Tax Credit Extension

Discussion in 'Money & Finance Forum' started by Johnny Rebel, Nov 6, 2009.

  1. Nov 6, 2009 at 2:29 PM #1
    Johnny Rebel

    Johnny Rebel BBBD

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    Can anyone explain the new tax credit extension just passed yesterday on buying a house? How is it different than it was before?
     
  2. Nov 6, 2009 at 6:08 PM #2
    Plate Dad

    Plate Dad It is what it is!!!!

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    Before it would be $8000.00 if this is your first home. They have included $6500.00 for those who have lived in their home for five years or more. Sure thier are a few more rules. Talk with a real estate client. Said business is up. Not setting the world on fire. But is helping.
     
  3. Nov 9, 2009 at 4:02 PM #3
    Johnny Rebel

    Johnny Rebel BBBD

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    I closed on the house I just bought in October. Even though I closed on it before the new bill went/goes into law, is there anyway I could be grandfathered in to get the $6500 for owning a house for 5+ years?
     
  4. Nov 9, 2009 at 4:05 PM #4
    VA49er

    VA49er Full Access Member

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    My bet would be no.
     
  5. Nov 9, 2009 at 6:28 PM #5
    Plate Dad

    Plate Dad It is what it is!!!!

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    NO! They are giving it away but be a little for real. If they did yours. I would want my $8000.00 and $6500.00. Since this is my fourth house purchase.
     
  6. Nov 10, 2009 at 12:45 PM #6
    Johnny Rebel

    Johnny Rebel BBBD

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    I guess so. Sucks though.
     
  7. Dec 30, 2009 at 4:16 AM #7
    constancechan

    constancechan Junior Member

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  8. May 8, 2010 at 9:53 AM #8
    SilverSurfer

    SilverSurfer Son of Anarchy

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