Articles tagged with: home buyer
Business, News, Politics, Real Estate »
Remember how the federal first-time home buyer tax credit stimulated the housing market when it was in place in one form or another for two years starting in April 2008?
The Arkansas Legislature is, apparently, hoping to stimulate housing markets here in the Natural State with a similar program.
HB1986, which is pending before the House Committee on Insurance and Finance, would grant first-time home buyers up to $2,500 for purchasing new homes. There are some stipulations, of course. For one thing, a first-time home buyer is anyone who has not owned …
Arts & Entertainment, Events, News »
It’s been said on more than a few occasions that buying a home is complex.
Further, it’s been said some of the complexity of purchasing a house means that a good number of people wind up in trouble.
When you think about it, the complexity and — at times — lack of understanding of what it takes to purchase a house helped lead to the emergence of the subprime lending market and the eventual demise of that same market.
Fayetteville-based Credit Counseling of Arkansas (CCOA) has spent a lot of time educating prospective …
A few days ago, First Arkansas News reported that Congress had passed a bill extending the closing deadline for the home buyer tax credit from June 30 to Sept. 30.
Shortly after that article was published, a commenter asked for further proof of the accuracy of the article. Another commenter asked if the legislation had been signed into law by President Barack Obama.
While the story was sourced very well, one question remained — would Obama sign the extension into law? He did that on July 2 and here’s a release from …
Commentary, Politics »
This just in — the tax credit for first-time and repeat home buyers has been extended by Congress, according to this Associated Press (AP) article.
The legislation will now go before President Barack Obama for approval. Assuming he signs the legislation and it becomes law, buyers sweating the June 30 deadline to close on homes and receive a credit can relax a bit — they will have an extra three months to finalize their purchases.
We’ve had one home buyer tax credit or another since 2008. The credit was modified and extended …
Business, News, Real Estate »
It seems yet another group is out to defraud the IRS by improperly claiming first-time home buyer tax credits.
This time it’s people who can’t get sent to jail for tax fraud because, well, they’re already there. According to this CNN article, over 1,200 prison inmates – including 241 serving life sentences – received $9.1 million in tax credits reserved for first-time home buyers. Furthermore, over $28 million was improperly distributed in home buyer tax credits, according to a Treasury Department report released Wednesday.
For those not familiar with the first-time home …