Does anyone actually know?
With 11,000 pages I’m sure the number of politicians that actually read it – not counting aides – is in the single digits. But, what does it mean in Delaware, Ohio?
Well the American Recovery and Reinvestment Act originally had a $15,000 housing grant to anyone that bought a house this year. It was cut at the last minute and replaced with an $8,000 first-time home buyer tax credit. Buy a home, for the first time before December 1, 2009, and you can claim an $8,000 credit on your 2010 taxes.
This is a nice extension over the former “tax credit” which required repayment, however this does have a three-year ownership requirement if you claim the credit.
In addition, the bill reinstated the HUD purchase limits to their 2008 levels, after they were rolled-back to the 2007 mark earlier this year.
Good article, “Housing Industry Wants more, in today’s Dispatch. Mike Pramik talks with a Clintonville couple that has planned to put their house on the market had the $15,000 stimulus bill came to pass, but won’t because it was only $8,000.
It is all about expectations and managing them in today’s economic world.
I HAVE A QUESTION ABOUT THE FIRST HOME BUYERS PROGRAM. I BROUGHT A HOUSE BACK IN 1999 FOR 3 THOUSAND DOLLARS IN CHESTER PA… I GOT MARRIED APRIL OF 2003. MY WIFE AND I ARE INTERESTED IN A HOME IN WILMINGTON DE. CAN WE BE APPROVED FOR THE FIRST HOME BUYERS PROGRAM????
Philip,
First, I’d recomend talking to a local mortgage provider.
However if you still own the Chester home, then you probably will not qualify for the first-time home owner grant. However if you sold the home more than three years ago, then you can qualify.
Toby
Where can I take class for first time home buyers for the Delaware county? It’s seem as though I’m not able to find this information.
i am interested in buying a home with first time home help.
are the any classes in de to help with 1st time home buyers