The $8,000 Tax Credit for 1st Time Homebuyers is truly Free Money!
Absolutely, positively Free Money – for folks who have not owned a home in the past 3 years who are buying a home in 2009 before December 1, 2009. But time is running out – these purchases must close escrow by November 30, 2009.
I say again, FREE MONEY is what it is! Absolutely, positively Free Money – an honest to goodness gift just waiting to be claimed. No obligation to repay this new gift (as was the case with last year’s $7,500 tax credit). The only stickler is that you must use the home as your primary residence for at least 3 years following the purchase. And don’t forget – the definition of a 1st Time Homebuyer is that the buyer has not owned a home in the past 3 years – so folks that might not “feel” like 1st Timers really can qualify.
Wow. It just does not get much better than this.
Many of my readers do not qualify as 1st Time Homebuyers and a few have asked “What does any of this have to do with me?” Well, currently most people who would qualify to benefit directly from the tax credit are unaware it exists and it is important to get the word out. Everybody has a relative, friend, co-worker, employee or drinking buddy who needs to know about this great gift so they can improve their quality of life and begin to build a better financial future. What better way to be a hero in their eyes than to help them take advantage of this unprecedented opportunity?
This program is important to all of us in one way or another. Everyone knows we are in the midst of a huge crisis caused by a cascade of bad loans and mortgages in default. The alarming rate of foreclosures has amplified what should have been a minor market adjustment for home values to the free fall we have seen over the past year. When such a large number of mortgages fail they bring values down for all homeowners. To heal the market more homes need to be purchased and get the vacant inventory reduced. A healthier housing market translates to a healthier national economy, higher values and net worth for current homeowners, and in the end to the benefit of us all.
So, if the tax credit does not directly apply to you, please share the information with somebody else who might be qualified to use it or know someone else who can. You will be a hero in the eyes of the ones you can help.
Help folks take advantage of this great deal. Feel free to refer them to my web site for more information – CLICK HERE
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Here’s a tidbit most folks probably do not know . . . an easy to remember “Rule of Thumb” that says When mortgage interest rates rise by 1 percentage point buyers lose 10% of their purchasing power. 
