Will the first time home buyer's tax credit be renewed again after April 2010?

Asked by Angie Dierdorff, Comstock, Spokane, WA Thu Feb 4, 2010

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Elva Wormley, Mortgage Broker Or Lender, San Jose, CA
Thu Feb 4, 2010
No one knows for sure. Obviously, the condition of our economy will be a driving factor and of course, the deficit and inflation fears will play a role as well.

0 votes
Dan Chase, Home Buyer, Texas City, TX
Thu Feb 4, 2010
NAR actually PROMISED they would not ask for another extension.

It should go away no matter what. market forces will fix the problem if allowed to.

The dems are now getting a lot more nervous about big spending. That could mean that nothing like this will have a chance at happening.
0 votes
Nancy Sillers, Agent, Burleson, TX
Thu Feb 4, 2010
No one knows what is in the future for first time homebuyers. FHA MIP has been raised and they are going to change how much the sellers are allowed to pay toward the buyers closing cost. That will hurt the first time homebuyer considering they will need more money to put toward the closing on their home.
0 votes
Bill Eckler, Agent, Venice, FL
Thu Feb 4, 2010
Hi Angie,

Your question is a good one. The government has take two very necessary initiatives that have produced results. Many feel there will need to be some sort of additional intervention. Whether or not it takes on an identity similar to the first program...only time will tell.

I personally feel it will need to be one that keeps people in their homes and minimizes future foreclosures.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Feb 4, 2010
Wish I had a crystal ball for an accurate answer--at this time it's anybody's guess.
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Jerry Lorenz, Agent, Strongsville, OH
Thu Feb 4, 2010

At this time no on knows. I have not even heard and speculation.

Jerry A. Lorenz
Russell Realtors
Cell: 440 724 4402
Blog: http://jerrysrealestateblog.blogspot.com
Web Reference:  http://www.lorenz-543.com
0 votes
Kevin Gomez, Agent, Winter Park, FL
Thu Feb 4, 2010
Nobody knows yet but I'm sure it will be. Things are not getting any better out there. There are no jobs, how can the economy be turning around.
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