Lawmakers Consider Home Tax Credit Ex...

Lawmakers Consider Home Tax Credit Extension

There are 51 comments on the WFMZ-TV Allentown story from Jun 11, 2010, titled Lawmakers Consider Home Tax Credit Extension. In it, WFMZ-TV Allentown reports that:

Homebuyers may get an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring.

Join the discussion below, or Read more at WFMZ-TV Allentown.

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Tony

Bradenton, FL

#1 Jun 11, 2010
More help for the people with jobs and money while still ignoring people without jobs and no money to support their families.

congress just keeps striving for new levels of shamelessness.

“Truth to Power!”

Since: Apr 07

United States

#2 Jun 11, 2010
Tax cuts spur activity & growth? I though leftist said it doesn't.

“Truth to Power!”

Since: Apr 07

United States

#4 Jun 11, 2010
24 US Troops dead already this month!

IMPEACH THE MAGGGOT!

“More taxes ???”

Since: Jan 09

Need MORE taxes ???

#7 Jun 11, 2010
Good Gawd ... are these idiots in Washington totally clueless ???? November can't get here soon enuff ....

“SEMPER FI”

Since: Feb 10

Location hidden

#8 Jun 11, 2010
This will come just in time for the next batch of forclosures! LOL
George W

Ft Mitchell, KY

#9 Jun 11, 2010
The economy will bounce back. Government spending created many jobs in the Great Depression, Hoover Dam for example. Some view that as socialism, others as a wise public investment -- saw a cool site; Balkingpoints ; incredible satellite view of earth

Since: Dec 07

Location hidden

#10 Jun 11, 2010
Tony wrote:
More help for the people with jobs and money while still ignoring people without jobs and no money to support their families.
congress just keeps striving for new levels of shamelessness.
One of the main things that will turn this economy around is helping people with jobs and money. We spend, business picks up, more people get hired. If the gov just taxes us to give money away to people then we don't have as much to spend, business do not hire, no new jobs are created.

Usually when people buy a new house they buy a lot of other stuff to go with it. Furniture, paint, appliances, remodeling services, carpeting, etc. This puts money into the economy and helps to employ other people.
Shady Lady

United States

#11 Jun 11, 2010
Hell, yes. Give them money to buy a house. They didn't pay for the last one, and they won't pay for this one, but how elese can we sell houses? We have to do something to make the tribal leader look good.
TedsLiver

Winters, CA

#13 Jun 11, 2010
While we are at it, the government needs to push the banks to make some more bad loans. Worked well when the Clinton administration did it.

Since: Apr 09

Pawleys Island, SC

#14 Jun 12, 2010
Shady Lady wrote:
Hell, yes. Give them money to buy a house. They didn't pay for the last one, and they won't pay for this one, but how elese can we sell houses? We have to do something to make the tribal leader look good.
The tax credit is for first time home buyers only. But don't let the facts get in the way of your constantly ignorant posts.

Since: Dec 07

Location hidden

#15 Jun 12, 2010
CSS 44 wrote:
<quoted text>
The tax credit is for first time home buyers only. But don't let the facts get in the way of your constantly ignorant posts.
Actually no. You're wrong. The tax credit also applies to people who already own a house. It's up to $8,000 for first time buyers and up to $6,500 for people who already own a house.
Shady Lady

United States

#16 Jun 12, 2010
Thank you, Nite Clerk. Most of the houses purchased using the extended tax credit, are foreclosures. It is a good deal if you are serious about buying a house. The problem is the banks aren't checking that closely if the buyer is qualified. Then the house is back on the market in a matter of months.
House Wanted

Reading, PA

#17 Jun 12, 2010
Shady Lady wrote:
Thank you, Nite Clerk. Most of the houses purchased using the extended tax credit, are foreclosures. It is a good deal if you are serious about buying a house. The problem is the banks aren't checking that closely if the buyer is qualified. Then the house is back on the market in a matter of months.
Actually the banks today are now tight with the money. If your credit score isn't in 690-720 range, don't waste their time. I tried to buy house back in February and my credit score was a few points less then what the bank thought perfect and I was turned down. I was brought up to be responsible with money. I always pay bills on time but turns out the problem was I have no credit cards with big balances, no loans for cars etc., so my credit history became the problem. Now I would think that someone who pays bills on time and isn't in debt up to their eyeballs would be a prime candidate for a mortgage, as the money would be there for the payments but it doesn't work that way today. No wonder everythings a mess right now with this "be in debt to get debt" logic. Guess I have to max out those cards so I can buy a house!
Hmmmm, second thought, isn't that how folks got in trouble in the first place.....living beyond their means? No thanks, I'll wait.
Dem

Pasadena, CA

#18 Jun 12, 2010
Excellent! Another wonderful shot in the arm to help our real estate market!
Shady Lady

United States

#20 Jun 12, 2010
What happens when the Democrats run outof other people's money.First create jobs, then peop;eill save for a down payment for a house, and they will work hard, and pay for it. Where are the jobs, Mr President?
Get Real

Pasadena, CA

#21 Jun 13, 2010
Shady Lady wrote:
What happens when the Democrats run outof other people's money.First create jobs, then peop;eill save for a down payment for a house, and they will work hard, and pay for it. Where are the jobs, Mr President?
The only jobs he can create are government jobs. Obama will never "run out of money", because he has a printing press!!
Great Grandkids

Pasadena, CA

#22 Jun 14, 2010
Get Real wrote:
<quoted text> The only jobs he can create are government jobs. Obama will never "run out of money", because he has a printing press!!
The Chinese loans are due in 50 years! Our great grandkids will be stuck with the bills.
Jimbo

Reading, PA

#23 Jun 15, 2010
@ House Wanted. Have you looked at FHA or VA loans? I know several people that have little credit and got approved. You also might want to check your credit report. Maybe there is something in there that shouldn't be.
Need A Home

Walnut Grove, CA

#24 Jun 15, 2010
Great Grandkids wrote:
<quoted text> The Chinese loans are due in 50 years! Our great grandkids will be stuck with the bills.
Who the hell gives a crap? I need a roof over my damn head now!
Drew

Whitehall, PA

#25 Jun 16, 2010
All this tax credit does is keep housing prices artificially high. People are being mislead believe that an $8000 tax credit is a good deal for them. Its only a good deal for the seller because it allows them to maintain equity when he/she should actually lose equity if the market was allowed to operate without interference from the government. The best way to help homebuyers is to let the housing price fall. That $8000 tax credit would be a fraction of what someone could save if we just let home prices come crashing down.

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