Comments on: Celebrate our independence with the ‘08 housing bailout bill

By: 8000 tax credit

8000 tax credit — Tue, 17 Feb 2009 00:21:10 +0000

Also note that the package says: 8.000,- OR 10 % of the homes value wichever is less. not sure if some houses has a value above 80.000,-. And don't forget: its just for the 2008 and 2009 taxes.

By: jody

jody — Thu, 03 Jul 2008 19:21:02 +0000

That just doesn't seem right. I mean it stimulates the economy, but the first time buyer programs are supposed to help people who are new in the market. Not too sure if I like the idea.

By: Donald

Donald — Thu, 03 Jul 2008 19:17:37 +0000

Another interesting part of this bill is the definition of first time buyer. I just read an article that describes what a first time buyer is according to HUD. In it I found you can be considered a first time home buyer even if you have owned a home in the past. It just has to have been three years prior to closing. You can also own rental properties and as long as you haven't used them as a primary resident, you still qualify as a first timer. Interesting post, I can't wait to see what happens with the bill.

By: morganb

morganb — Sat, 28 Jun 2008 16:58:11 +0000

The bottom line is that there should be no bailout. I also agree
however that it should not be capitalism for the poor and socialism
for the rich. I've written plenty about that before.

By: florida homeowner

florida homeowner — Sat, 28 Jun 2008 16:10:05 +0000

Do more research.
That bailout bill is far more lucrative to homebuilders.
Consider:
The bill includes a provision that extends the period that a firm can deduct 2008 and 2009 losses against profits from two years to four years. That means homebuilders can take their losses and go back in time to save hundreds of millions of dollars.
You call that capitalism?
Hell no.
If homebuilders can get a bailout, why can't homeowners.

By: Risk is still risk, no matter who insures it

Risk is still risk, no matter who insures it — Fri, 27 Jun 2008 19:03:57 +0000

[...] to my RSS feed. Thanks for visiting!An important lesson for everyone to remember during all of this bailout mania is that higher risk still costs more money – no matter who is managing it – the government or [...]

By: Michael

Michael — Fri, 27 Jun 2008 11:58:03 +0000

This is bad news folks. This bill is getting pushed through in the face of mass constituent angst and concern. The time to write, call in etc. is now. We can't blame ourselves if we let Congress act yet again against the will of the people. Check this site out:

http://www.capwiz.com/freedomworks/issues/alert...

By: morganb

morganb — Wed, 25 Jun 2008 23:07:05 +0000

From what I have read it is for all first time homebuyers who are buying an
unoccupied home as a primary residence. But that is only from the article I
read. I believe it would only apply after the law was passed – again, just
a guess on that one.

By: Mr. R

Mr. R — Wed, 25 Jun 2008 20:20:08 +0000

Do you know for the “tax credit for first time homebuyers for $8k or 10%”, does this apply only to low income people? Do you know will it be effective for purchases in 2008? Or only after it is passed into law?

By: morganb

morganb — Wed, 25 Jun 2008 14:13:08 +0000

I agree Don – why i hate my elected officials and their pandering (new
category) hope you are well!