you are right Congress should make tax retroactive to the first of 2009.
to be totally fair, thye should roll this back to the passage of the $7,500 credit and make it ALL a credit and not just a no interest loan.
logically, why should a buyer who closed Dec 31, 2008 be different than a buyer who closed Jan 4, 2009?
pls be aware that the income limits in high costs areas effectively eliminate the credit for many buyers.
It's something like the price of gas....do you fill up today or wait and see if it drops tomorrow? And because you filled up yesterday at $1.98 a gallon and it dropped to $1.59 today...don't think you can pull in and ask for the difference.
Laws and tax credits change...our world is constantly changing. The good news is...the human being is the most adaptable creature on the planet! :)
Now let's see what actually gets signed. We'll be tracking it closely on Trulia Blog, and I'm sure more people will be talking about it on Trulia Voices!
I've attached a link to the WSJ's latest article on this. It is followed by blog post with some good commentary.
Look at the bright side. You probably still got a great deal, and are getting the $7500 credit to boot. Once this stimulus goes into effect, prices will likely rise with demand. Beyond all that, it's all still just hot air until they sign something, anything, into law.
I do empathize with your position, but there are a lot more good hard working people out there with much more serious financial injuries from this market. They can point to poor ethics, regulation and legislation as well.
You'll be fine in the long run.
Enjoy the read. Post to the blog...
If a gas station said we are giving away free coffee for life if you come in and prepay for a years worth of gas and you signed up for it....and then on the way down there they cancel the promotion but your still stuck with the gas bill...you would be disappointed. You wouldn't be getting screwed out of the gas...but I would still classify that as bait and switch.
Either way, I hope the bill helps our economy and I wish everyone luck with their home purchases.