Entries Tagged 'Financial News' ↓

Awhile back I posted on the first-time homebuyers credit. I am sure by now, most of you have heard, not only about this credit, but also about the changes it went through that made it even better.

One change, for instance, is that the $7,500 cap has been raised to $8,000.

Another change is that the timeline has been extended. Originally you had to buy your home buy July 1, 2009. Currently you have until December 31, 2009 to be eligible for this credit.

And even better change is that under the old credit, it was really a loan in disguise. Now it is a full fledged gift of our government.

So What’s The Point? Continue reading →

The end of 2008 saw a decrease in employment as 524,000 U.S. jobs were lost in December alone. The unemployment rate has now climbed to its highest level since 1993.

See this Reuters article for more information.

Buying I house? I am. Rather, I am hoping to soon. God willing, we will be in a home by February. My wife and I have been looking for our first house. I am not sure what I am looking forward to most: having a house or getting $7,500 for buying it. 

Okay, thats a lie. I can’t wait to finally move into my first house, but getting a big fat check from the IRS has still got me excited. 

For those of you that don’t know, earlier this year legislation was enacted that allows for a refundable tax credit to first time home buyers. Continue reading →