Opportunity of a Lifetime for First-Time Buyers

carol, My homebuyers don't see it as much of an advantage. They see this as just adding on more debt.

Mine too, but thanks for the post.

This is a good deal, if you paid back the payment each month it would be around $42.00.

Carol - Those who act quickly, can close on their home and apply the tax credit to their 2008 tax return.  Depending on how they file, buyers could literally have the money within 2 weeks of closing.

For anyone who doesn't think this is a good deal, please send me $7,500 and a legal contract obligating $500 annual payments over the next 15 years.  I will sign every single one. 

Tax credit is a last resort option for most first time home buyers, but the reasoning is that they pay more in rent eventually than what they would pay with the tax credit

Great Post Carol,

IT is important for people to take advantage of these things.

All the best!

 

 

Carol, the $7,500 tax credit is a great idea as long as people know it is a loan.

Hi Carol... It's a great program and the biggest obstacle for buyers to take advantage of it is their own procrastination... as you said, time is of the essence.

Carol although it is a loan, paying it back is less of a burden.  Consumers need to have all the options they can get these days.

the tax credit, low home prices, near all-time low interest rates, make this a must consider buying time for home buyers