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ladylucklv wrote on December 18, 2008 04:39 PM: I'll take all the money I can get. I will be taking the $7,500 interest free loan from the government. If they increase the amount!

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Hubble Smith's Junior News Buddy wrote on December 18, 2008 03:48 PM: This guy needs to be quit whining. How many of his new homes built in 2004-2006 are now sitting vacant?
Interest schminterest. Credits schmedits. People aren't going to be buying new homes as long as there is a steady supply of underpriced foreclosures. The government could do exactly what this guy wants and builders would still be up the creek. Again, he probably profited handsomely in selling to unqualified buyers during the boom.
As someone who qualifies for this tax credit, I can say it didn't impact my decision to buy but I will take it. It will be my cash reserve for the foreseeable future.
And for those who haven't heard of it, the government will give $7,500 to any first time homebuyer who bought/buys between 4/9/08 and 6/30/09. It's actually not a tax credit. It's an interest-free loan that has to paid back at $500 per year or it's due when you sell. I'll take it, thanks, $500 a year is nothing.

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American wrote on December 18, 2008 03:36 PM: If we just fixed the abuses in the welfare system the money saved would be enough to pay off everybody's mortage

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Amen wrote on December 18, 2008 03:08 PM: "What about a friggin stimulus package to help all the people who bought their houses, make their friggin payments and suffered a major loss in the value of their home due to the amount of forclosures driving the economy down."

Amen to that

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Coarnea wrote on December 18, 2008 02:44 PM: Who pays for these tax credits? Please explain.

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Sad Summerlin wrote on December 18, 2008 02:44 PM: So let's give more CREDIT to people who cannot afford homes so that we can do this all over again in 2 years...

Amazing.

How about rewarding responsibility for once?

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Reason wrote on December 18, 2008 02:33 PM: The $7500 is moderate and conservative, as our growth should have been and should be. Choke on it, in the same way you have residents choking on 8-10 home per square block neighborhoods.

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Better Idea wrote on December 18, 2008 02:08 PM: How about a 100% credit, paid by the taxpayer. This way us poor, irresponsible, 400 FICO score, Chapter 7 types could get a house at no cost. Let the idiots that paid their mortgage on time and did not over-extend themselves pay for us!

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REBECCA wrote on December 18, 2008 01:45 PM: I think a tax credit for 10% of the homes value would be a great way to get new home owners like myself out there buying home furnishings to help stimulate the economy. I agree that something bigger has to be planned to help us out of the problems with the economy we are in.

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M. Gomez wrote on December 18, 2008 01:44 PM: What about a friggin stimulus package to help all the people who bought their houses, make their friggin payments and suffered a major loss in the value of their home due to the amount of forclosures driving the economy down.

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