We'll never learn

HUD plans to tweak $8,000 tax credit rules so first-time homebuyers can get instant down-payment assistance.

http://money.cnn.com/2009/05/18/real_estate/tax_credit_as_downpayment/index.htm?postversion=2009051912

 

Nothing cuts in teacher salaries won't solve.

 

As a future first-time home buyer later this year....I'll take it, thank you very much.

 

Yeah I don't think this is a good idea. But if I can get the $8,000, I'm getting together with some friends and buying a house.

 

I've fought the good fight the last 10 years (shocking that it's the exact amount of time I've been with the wife). I've paid EVERY bill on time. Not late once. I don't have a mountain of debt. No outrageous credit card fail.

So if the govt wants to lend me a hand when we go to buy a house, I'm taking every penny they wanna give.

 

Your not the type of person that would default on your mortgage though. You pay your bills. It's the people who don't that should have us worried. Now they can get a house.

 

I don't think that $8K is going to make the difference these days on whether people can or cannot get a house. If you don't have a decent credit score, it won't matter unless you have 20 percent down. The banks just aren't giving as much money away.

Me, I'm getting my $8K back with my taxes next February and paying off my car, then i'll use some of the extra i have each month to pay ahead on my mortgage.

And I'm with Ryan... I've done it all by the books for the last 12 years. I didn't buy a house when I didn't think I could afford it. So if there is finally a government program to help me, then dammit, I'm taking it all!

 

If this goes through in my state, it would help me out. I don't have $8,000 to put down on a house, and I can't afford $1000 per month for a mortgage, but I can get two of my buddies to rent from me. Even if I charged $350 a month plus utilities - less than they pay for rent now, I would have most my mortgage paid each month, and I would have more than a 5 percent down payment.
Or, I ca

 

I'm planning on buying our first house within a couple years, and for the areas I want to live in, 8k almost *is* a 20% down payment.

Man, I love living in low-cost-of-living areas.

 

You can buy a house for 40-50K?

 

No shit. Where do you live Rick? Haiti?

 

Detroit?