Comments on: They Passed the Stimulus Bill: Do I Have to Pay Back My $7,500 Tax Credit?!? http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/ Expert Advice & News on Bad Credit Mortgage, Mortgage Refinancing & Home Loans Sat, 21 Nov 2009 03:13:32 +0000 http://wordpress.org/?v=2.3.2 By: Gina Pogol http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-7506 Gina Pogol Mon, 02 Nov 2009 16:50:45 +0000 http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-7506 There isn't much anyone can do. It's kind of like people who buy a car with a $3,000 discount and then Cash for Clunkers comes along with $4500. But those who were okay with $3,000 already bought their cars. It's a risk you take when you buy anything--I got plane tickets for $500 and a week later I could have bought them for $120. When a deal seems good you have to take it; I would have done the same in your shoes. There isn’t much anyone can do. It’s kind of like people who buy a car with a $3,000 discount and then Cash for Clunkers comes along with $4500. But those who were okay with $3,000 already bought their cars. It’s a risk you take when you buy anything–I got plane tickets for $500 and a week later I could have bought them for $120. When a deal seems good you have to take it; I would have done the same in your shoes.

]]> By: obama sucks http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-7464 obama sucks Sun, 01 Nov 2009 23:32:42 +0000 http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-7464 I agree I feel like I did the right thing and went out and bought a house bc it was the right thing for me to do, not to get 7500.00 and now people are buying houses to get 8000.00 and its free money and I get to start paying my 7500.00 back next year ...whats wrong with this and what should I do....call or write??? I agree I feel like I did the right thing and went out and bought a house bc it was the right thing for me to do, not to get 7500.00 and now people are buying houses to get 8000.00 and its free money and I get to start paying my 7500.00 back next year …whats wrong with this and what should I do….call or write???

]]> By: Blakeslee T http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-4946 Blakeslee T Fri, 17 Jul 2009 20:57:18 +0000 http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-4946 Question Cont'd: I wanted to add that I bought the condo for 149K and got a piggy back loan for the down payment so I ended up owing 157K - The homes in that area are dropping in value about 1% per month. So the place is now has, I guess you'd call it negative equity as it is now worth less than I paid for it and it looks like that will not change any time in the foreseeable future. Thanks again for and suggestions, Blake Question Cont’d: I wanted to add that I bought the condo for 149K and got a piggy back loan for the down payment so I ended up owing 157K - The homes in that area are dropping in value about 1% per month. So the place is now has, I guess you’d call it negative equity as it is now worth less than I paid for it and it looks like that will not change any time in the foreseeable future.

Thanks again for and suggestions,
Blake

]]> By: Blakeslee T http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-4944 Blakeslee T Fri, 17 Jul 2009 20:21:25 +0000 http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-4944 Question: I closed on my home in August of 2008 and took the $7500 tax credit. It was a long commute to work and I have back problems. I fell at work and making the existing condition worse and finall had to get a studio across the street from where I work in 2009. The value of my condo also dropped by 20,000. My question is can I rent it out without having to pay back the credit to offset the cost now that I have rent and a mortgage payment. It won't be long before I am out of savings. Thanks, Blake Question: I closed on my home in August of 2008 and took the $7500 tax credit. It was a long commute to work and I have back problems. I fell at work and making the existing condition worse and finall had to get a studio across the street from where I work in 2009. The value of my condo also dropped by 20,000. My question is can I rent it out without having to pay back the credit to offset the cost now that I have rent and a mortgage payment. It won’t be long before I am out of savings.

Thanks, Blake

]]> By: Aisha http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-4459 Aisha Fri, 03 Jul 2009 02:48:44 +0000 http://www.mortgagecreditproblems.com/blog/they-passed-the-stimulus-bill-do-i-have-to-pay-back-my-7500-tax-credit/#comment-4459 Question: When you are selling your house, does it matter the loan amount(including closing costs) that you clear for repaying the tax credit or what we paid only for the house? What if what we paid for the house is less than what the house is worth? My husband is military and we bought a house a year ago and now we have orders to japan for the next three years. So we are trying to sell. Thanks Question: When you are selling your house, does it matter the loan amount(including closing costs) that you clear for repaying the tax credit or what we paid only for the house? What if what we paid for the house is less than what the house is worth? My husband is military and we bought a house a year ago and now we have orders to japan for the next three years. So we are trying to sell.
Thanks

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