First Time Home Buyers Rewarded With $8,000 Tax Credit <meta http-equiv="Content-Type" content="text/html; charset=UTF-8" /> <meta name="generator" content="WordPress 2.6" />  <link rel="stylesheet" href="http://mynewwesthome.com/blog/wp-content/themes/lust/style.css" type="text/css" media="screen" /> <link rel="alternate" type="application/rss+xml" title="RSS 2.0" href="http://mynewwesthome.com/blog/feed/" /> <link rel="alternate" type="text/xml" title="RSS .92" href="http://mynewwesthome.com/blog/feed/rss/" /> <link rel="alternate" type="application/atom+xml" title="Atom 0.3" href="http://mynewwesthome.com/blog/feed/atom/" /> <link rel="pingback" href="http://mynewwesthome.com/blog/xmlrpc.php" /> <link rel='archives' title='December 2009' href='http://mynewwesthome.com/blog/2009/12/' /> <link rel='archives' title='November 2009' href='http://mynewwesthome.com/blog/2009/11/' /> <link rel='archives' title='October 2009' href='http://mynewwesthome.com/blog/2009/10/' /> <link rel='archives' title='September 2009' href='http://mynewwesthome.com/blog/2009/09/' /> <link rel='archives' title='August 2009' href='http://mynewwesthome.com/blog/2009/08/' /> <link rel='archives' title='July 2009' href='http://mynewwesthome.com/blog/2009/07/' /> <link rel='archives' title='June 2009' href='http://mynewwesthome.com/blog/2009/06/' /> <link rel='archives' title='May 2009' href='http://mynewwesthome.com/blog/2009/05/' /> <link rel='archives' title='April 2009' href='http://mynewwesthome.com/blog/2009/04/' /> <link rel='archives' title='March 2009' href='http://mynewwesthome.com/blog/2009/03/' /> <link rel='archives' title='February 2009' href='http://mynewwesthome.com/blog/2009/02/' /> <link rel='archives' title='January 2009' href='http://mynewwesthome.com/blog/2009/01/' /> <link rel='archives' title='December 2008' href='http://mynewwesthome.com/blog/2008/12/' /> <link rel='archives' title='November 2008' href='http://mynewwesthome.com/blog/2008/11/' /> <link rel='archives' title='October 2008' href='http://mynewwesthome.com/blog/2008/10/' /> <link rel='archives' title='September 2008' href='http://mynewwesthome.com/blog/2008/09/' /> <link rel='archives' title='August 2008' href='http://mynewwesthome.com/blog/2008/08/' /> <link rel='archives' title='July 2008' href='http://mynewwesthome.com/blog/2008/07/' /> <link rel="EditURI" type="application/rsd+xml" title="RSD" href="http://mynewwesthome.com/blog/xmlrpc.php?rsd" /> <link rel="wlwmanifest" type="application/wlwmanifest+xml" href="http://mynewwesthome.com/blog/wp-includes/wlwmanifest.xml" /> <meta name="generator" content="WordPress 2.6" /> <link rel="stylesheet" type="text/css" media="screen" href="http://mynewwesthome.com/blog/wp-content/plugins/sociable/sociable.css" /> </head> <body class="wpd-lust"> <div id="header"><div class="wrap_center"> <h1><a href="http://mynewwesthome.com/blog/" title="ChicagoWord home page">ChicagoWord</a></h1> </div></div> <div class="clear"></div> <div id="menu"> <ul> <li class="page_item"><a href="http://mynewwesthome.com/blog" title="Home">Home</a></li> <li class="page_item page-item-21"><a href="http://mynewwesthome.com/blog/about-new-west-realty/" title="About New West Realty">About New West Realty</a></li> <li class="rss"><a href="http://mynewwesthome.com/blog/feed/" title="Subscribe to Feed">Subscribe to Feed</a></li> </ul> </div> <div class="clear"></div> <div id="page"><div class="wrap_center"><div class="wrap_float"> <div class="maincolumn"> <div class="banner"> </div> <div class="clear"></div> <div class="post" id="post-789"><div class="wrapper"> <div class="postmeta"> <ul> <li>Posted on: September 29th, 2009</li> <li>By: Luke</li> <li>Under: <a href="http://mynewwesthome.com/blog/category/good-to-know/" title="View all posts in Good to Know" rel="category tag">Good to Know</a>, <a href="http://mynewwesthome.com/blog/category/news-annoucements/" title="View all posts in News & Annoucements" rel="category tag">News & Annoucements</a>, <a href="http://mynewwesthome.com/blog/category/things-to-think-about/" title="View all posts in Things to Think About" rel="category tag">Things to Think About</a></li> </ul> </div> <h2><a href="http://mynewwesthome.com/blog/2009/09/29/first-time-home-buyers-rewarded-with-8000-tax-credit-2/" title="First Time Home Buyers Rewarded With $8,000 Tax Credit">First Time Home Buyers Rewarded With $8,000 Tax Credit</a></h2> <div class="entry"> <p><strong><em>Note: This blog post was published in early June, but it remains especially relevant because time is running out to take advantage of the tax credit. New home owners must close on their home by November 30th to take advantage of the offer.</em></strong></p> <p><a href="http://mynewwesthome.com/blog/wp-content/uploads/2009/06/2712508655_8dbd27cdce.jpg" ><img src="http://mynewwesthome.com/blog/wp-content/uploads/2009/06/2712508655_8dbd27cdce-300x225.jpg" alt="" title="2712508655_8dbd27cdce" width="300" height="225" class="alignleft size-medium wp-image-598" /></a>People looking to purchase a home for the first time are being persuaded by the federal government to do just that. From WSJ:</p> <p><em>“The Federal Housing Administration rolled out details of its policy Friday that will let first-time home buyers apply an $8,000 tax credit to fund home purchases.</p> <p>Until now, home buyers were only able to get that money after they bought a home, by applying for the credit–10% of the home’s price up to $8,000–on their tax returns.</p> <p>The policy change means home buyers, who use FHA-backed financing, can get a short-term loan to help buy a home. The loan is repaid a few months later, after the buyer files an amended tax return and receives the credit.”</em></p> <p>Some are slightly irked by the FHA’s decision, particularly current home owners struggling to pay their mortgages. But the FHA is trying to put potential homeowners’ confidence back in the housing market, and this tax credit could do just that.</p> <p><strong><a href="http://blogs.wsj.com/developments/2009/05/29/how-to-get-the-8000-first-time-home-buyer-credit-upfront/" onclick="javascript:pageTracker._trackPageview('/outbound/article/blogs.wsj.com');">Click here</a></strong> for the full WSJ article. 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