With the recent talk of raising the first-time homebuyer’s credit, one important question is still open: why are the current checks taking so long to go through? No one expects the tax credit to be instantaneous, and of course the IRS will need to validate each claim. But reports of delayed tax credits are pouring in — and when the tax credit is a key part of financing a new home, this has people nervous.
Posts Tagged ‘real estate’
Where are the First Time Home Buyer’s Checks?
Monday, June 22nd, 2009Realtors Association Calls for Higher New Home Tax Credit
Monday, June 22nd, 2009One of the fastest responses to the real estate slump was a new homebuyer credit. The plan, of course, was to stimulate new home purchases. It may have already had an effect — housing starts have jumped lately, and the property market has stabilized — but that may not be enough. If the National Association of Realtors gets their new plan enacted, the credit will be nearly doubled, and the “First-Time” part of “First-Time Home Buyer Credit” will be dropped.
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