Comments on: $8000 Tax Credit Can Be Used for Down Payment http://agent503.com/2009/05/14/8000-tax-credit-can-be-used-for-down-payment/ The Portland Real Estate Insider Fri, 15 Jan 2010 03:58:53 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Edie http://agent503.com/2009/05/14/8000-tax-credit-can-be-used-for-down-payment/comment-page-1/#comment-94 Edie Tue, 19 May 2009 21:06:14 +0000 http://agent503.com/?p=1768#comment-94 First, thanks for the website. I think keeping tabs on local real estate and seeing opportunities is exactly the way to go for patient buyers. Second, this cannot be a good idea. I think the tax credit after buying the home is good, in that it will stimulate buying in Q1-Q2 next year in buying household goods, paying millage taxes and the like. But to have it available as a downpayment can present all sorts of issues,and may help keep property prices artifically high. First, thanks for the website. I think keeping tabs on local real estate and seeing opportunities is exactly the way to go for patient buyers.

Second, this cannot be a good idea. I think the tax credit after buying the home is good, in that it will stimulate buying in Q1-Q2 next year in buying household goods, paying millage taxes and the like. But to have it available as a downpayment can present all sorts of issues,and may help keep property prices artifically high.

]]> By: John http://agent503.com/2009/05/14/8000-tax-credit-can-be-used-for-down-payment/comment-page-1/#comment-93 John Mon, 18 May 2009 21:42:41 +0000 http://agent503.com/?p=1768#comment-93 FYI--HUD just announced that the "bridge loan" for the $8000 tax credit as down has been "suspended until further notice". The mortgagee letter has been pulled from HUDs site. Looks like this aint gonna fly after all, or at least the way it was initially planned. FYI–HUD just announced that the “bridge loan” for the $8000 tax credit as down has been “suspended until further notice”. The mortgagee letter has been pulled from HUDs site. Looks like this aint gonna fly after all, or at least the way it was initially planned.

]]>