Comments on: Federal $8000 Housing Tax Credit Explained

By: Willy Gillis

Willy Gillis — Wed, 11 Nov 2009 12:36:26 +0000

I am closing on November 24th. The seller wants to do a rent back so he can stay in the house until December 5th. Will giving him this rentback mess up my receiving the $8000 tax credit. I'm not buying the house for renting it and will move in December 6th.

Thanks.

By: groupsource

groupsource — Tue, 13 Oct 2009 11:07:32 +0000

While many housing groups support extending the housing tax credit, others worry that an extension would cause consumers to postpone their decision to buy, rather than responding the urgency of an expiring federal credit. Economists also suggest that expanding the credit to all buyers is less effective economically than the current first-time buyer requirement.

http://betterblog.ning.com/profiles/blogs/feder...

By: real estate lead generation

real estate lead generation — Tue, 13 Oct 2009 03:53:36 +0000

I think the video is great! gives a nice detailed explanation and answers some questions that other videos on the tax credit don't answer

By: 1milker

1milker — Tue, 22 Sep 2009 02:55:39 +0000

Can my brother buy a hosue he rents from me and receive the housing tax credit? Tax forms just say etc. when describing relations. Is selling to a brother not allowed if he wants the credit? Thanks, Nick

By: Jay Thompson

Jay Thompson — Mon, 07 Sep 2009 12:52:03 +0000

No, you wouldn't be eligible. The credit is for first time homebuyers, defined as those that haven't owned a home in the last three years. You own a home right now. You're renting it out, but you still own it.

By: Jay Thompson

Jay Thompson — Mon, 07 Sep 2009 12:50:21 +0000

Bill – Sadly, I've heard no mention what-so-ever of any sort of extension for deployed military.

By: Jay Thompson

Jay Thompson — Mon, 07 Sep 2009 10:52:03 +0000

By: Jay Thompson

Jay Thompson — Mon, 07 Sep 2009 10:50:21 +0000

Bill – Sadly, I've heard no mention what-so-ever of any sort of extension for deployed military.

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