We'll never learn

[poindexter]

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

 

[Fudgie the Whale]

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.

 

[JackReacher]

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

 

[mustangj17]

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.

 

[JackReacher]

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.

 

[mustangj17]

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.

 

[Matt1735]

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!

 

[mustangj17]

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

 

[RickStain]

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.

 

[spnited]

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?

 

[Armchair_QB]

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 ****. Where do you live Rick? Haiti?

 

[Brooklyn Bridge]

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 ****. Where do you live Rick? Haiti?

Detroit?

 

[spnited]

Actually, 40-50K would be 20% down on a small condo where I am.

 

[Angola!]

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 ****. Where do you live Rick? Haiti?

I giggled.

It would be about 6 percent down for a mid-range house here.

I'd take it, but I'm not a first-time home buyer. Alas.

 

[NoOneLikesUs]

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

Absolutely right. Homes are still way over priced across this country. Any attempt to artificially keep their values inflated will end in another disaster.

 

[JackReacher]

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.

I hope you don't plan on making any money off your house in the future. Usually places with COL that low......home prices rarely go up enough to make any money. That was the case in the small Alabama town I lived in. Houses were dirt cheap, but it was a bad investment unless you planned on living there for 25 years.

And whoever said that 8K isn't enough to make a fuss over...you're right. If the govt was giving away 20K or something, maybe. But 8K isn't that much in the big picture.

And again, I'll take it in a heartbeat.

 

[bigblueman]

As someone living in a neighborhood with foreclosed properties, I hope first-time home buyers do take advantage of the program.

Empty homes don't do anything for my property value.

 

[mustangj17]

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 ****. Where do you live Rick? Haiti?

Detroit?

Seriously, right outside of Detroit in a decent middle class neighborhood you still have to spend $80-$90k down from the 150s from two years ago.

 

[JackReacher]

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 ****. Where do you live Rick? Haiti?

Detroit?

Seriously, right outside of Detroit in a decent middle class neighborhood you still have to spend $80-$90k down from the 150s from two years ago.

I wish I could find a nice house for 150. Even 250.

 

[sportschick]

I am sooo tempted by this program. There are these brand new condos up the road that are around 80K, depending on whether they face the road or not. I can swing the payment and the condo fees. They're less than my rent. I've been so focused on paying down my credit card debt, however, that I have nothing saved for a down payment. The credit would be close to 10 percent down. I could probably get a loan then.