Comments on: First Time Home Owner Tax Credit Likely To Stay; But Current Homeowners Still Face Uncertain Future

By: ILR

ILR — Tue, 20 Oct 2009 20:12:51 +0000

I agree that the first time home buyer program works and should be extended.

I also think the way Home Affordable Modification Plan (HAMP) has not been a success and should be changed.

I think more emphasis should be on streamlining Short Sale approvals and Guarantee losses Investors will have to take on some of these toxic mortgages.

Finally back to the first time home buyer. I think FHA needs to be available for first time home buyers and talk about changing the down payment should be avoided at all cost.
.-= ILRealtor´s last blog ..Top 2 Reasons Why A Short Sale Never Closes… and How to Prevent it =-.

By: Willis Wood

Willis Wood — Fri, 09 Oct 2009 20:07:14 +0000

I hope that the government renews the $8,000 first time buyer tax credit. Even though it is not a permanent solution to our problems, I think it has boosted the real estate sector. However, we are still a long shot from having a thriving economy again. Thanks for the article!

By: Steve

Steve — Thu, 08 Oct 2009 17:38:07 +0000

I have heard all kinds of reports. The tax credit will be moved to $15,000 seems like the consensus right now.

Agreed, that we still have a large list of bigger problems.
.-= Steve´s last blog ..Scams Polar CMC Inc and Escrow Stream? =-.

By: Sam Chapman

Sam Chapman — Wed, 07 Oct 2009 18:08:06 +0000

The housing “recovery” has been artificial. If the credit does not get extended, we will see sales fall. If it extends, we will see more money give away that future generations will have to pay for.

As for loan modifications, I don’t like that idea. Investors buying mortgagge backed securities will want a higher rate of return if they are buying assets that can create a loss. That will lead to higher interest rates.

By: Marlene

Marlene — Wed, 07 Oct 2009 16:31:40 +0000

The first time buyer program is a great tool to get first time buyers (or at least if you have not owned a home in three years) to get out and buy a home. But does this solve our nation’s crisis-unemployment, foreclosures and failing banks? No, really we need to go back to the American trade act. We need to tax foreign companies that import items to sell in our county and we need to start making our own goods-the only way to turn this country around is to close the trade and start manufacturing HERE in the good ol’ U.S of A. Thnaks for a great article!

By: Ralph D Bredahl

Ralph D Bredahl — Wed, 07 Oct 2009 14:35:16 +0000

Throwing money at the problem doesn’t seem to be the answer. I saw a stat today that says 50% of loan mods are once again facing foreclosure.
At least some of the current problem is personal responsibilty
Thanks for a good article