George Nicke…, Other/Just Looking in North Royalton, OH

how does the $8000 tax credit really work? Can this be used as a down payment?

Asked by George Nickell, North Royalton, OH Mon Apr 19, 2010

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This question is about this property: http://www.trulia.com/property/3004017565-15115-Pine-Hill-Tr…

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Here is a blog post that will get your on your way to understanding how the Tax Credit works:
http://www.trulia.com/blog/jeanne_feenick_-_new_jersey/2010/…


The most important thing to know is that it will soon be over. Just today we received a reminder of that from our top brass.....

"After nearly two years, the homebuyer tax credit really is coming to an end. There are no indications that the tax credit will be extended this time around. In fact, according to the National Association of Realtors, lawmakers made lobbyists promise -- practically in blood -- that they would not come back and ask for another extension."

You need to be under contract by April 30 and close by June 30 in order to qualify.

Good luck,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Mon Apr 19, 2010
No, but you will get the tax credit immediately, sometimes makinh up for the down payment. Maybe it does not help your cash flow short term, though.
0 votes Thank Flag Link Mon Apr 19, 2010
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