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Senate approves $15,000 tax credit for homebuyers...


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#1 Zaximus

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Posted 05 February 2009 - 04:12 PM

http://news.yahoo.co...ngress_stimulus

Can someone explain what the heck this means for us? I'm sick today and can't think straight!

#2 Jbro

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Posted 05 February 2009 - 04:16 PM

I own a house I want my 15k dammit.

#3 Zaximus

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Posted 05 February 2009 - 04:19 PM

Yeah I bought my house in Feb 07' so I'm screwed from all this.

I know someone that did that $7500 thing a few days ago, I think they have to owe $500 on their returns for 15 years though?

Wonder if this is the same, just more money?

#4 Jbro

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Posted 05 February 2009 - 04:21 PM

I did not read the article I bought my house in '06 so what does that mean?

#5 Jase

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Posted 05 February 2009 - 04:22 PM

If it's like the $7500 credit that already exists, it's nothing but a 15 year interest free loan.

< currently under contract on a house so I'm very interested.

#6 Zaximus

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Posted 05 February 2009 - 04:23 PM

I did not read the article I bought my house in '06 so what does that mean?


It means that I hope someone that has some input worth reading replies to this thread lol.

#7 catfang

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Posted 05 February 2009 - 04:24 PM

I read it and didn't see the 15000 thing...which paragraph? :)

#8 Jbro

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Posted 05 February 2009 - 04:24 PM

It means that I hope someone that has some input worth reading replies to this thread lol.


Oh, you thought somebody gave a damn about your thread... Thats cute.

#9 Murph

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Posted 05 February 2009 - 04:25 PM

It means nothing until the President signs it. Remember, this is not the House's plan so it has to go back to them first. There will probably be more changes and that homebuyers credit might be tweaked, expanded or removed.

Wait until the final bill makes to the president's desk before trying to figure it out.

#10 Zaximus

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Posted 05 February 2009 - 04:27 PM

Oh, you thought somebody gave a damn about your thread... Thats cute.


I don't know why it wouldn't matter to people? Question: How's it feel to be a moron?


Yeah it seems like they change/update that page and that part was "updated" out. Basically they want to give a $15000 tax credit/break for new home buyers in 2009 I think. Not sure if it's like the $7500 from last year (where it's really a 0% interest loan) and that's what I was wondering.

#11 natty

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Posted 05 February 2009 - 04:28 PM

Damn my credit, I want to buy!!

#12 Zaximus

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Posted 05 February 2009 - 04:40 PM

If it's like last years it's not really a credit, more like a 0% loan. Which, is still not bad if you took that money and invested it somehow to paid off debt, but if you just take it to buy crap it's about worthless.

#13 Jase

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Posted 05 February 2009 - 04:45 PM

By the looks of this article:

http://money.cnn.com...using/index.htm

It looks like it's just an increase of the 0% loan.

#14 natty

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Posted 05 February 2009 - 05:20 PM

If it's like last years it's not really a credit, more like a 0% loan. Which, is still not bad if you took that money and invested it somehow to paid off debt, but if you just take it to buy crap it's about worthless.


How is that? Looks like a straight up tax credit to me.

#15 Davidson Deac II

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Posted 05 February 2009 - 06:03 PM

npr buyer tax credit

Isakson said the new tax break for homebuyers was intended to help revive the housing industry, which has virtually collapsed in the wake of a credit crisis that began last fall.

The proposal would allow a tax credit of 10 percent of the value of new or existing residences, up to a $15,000 limit. Current law provides for a $7,500 tax break but only for first-time homebuyers.

Isakson's office said the proposal would cost the government an estimated $19 billion.

The provision was the second tax cut approved in as many days targeted to individual industries. On Tuesday, the Senate voted to give a break to consumers who buy new cars.




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