This is a Sponsored Post written by me on behalf of Coldwell Banker. All opinions are 100% mine.
With the horrid economy comes low, low prices for houses. Houses we all thought we could not afford. Houses we had always dreamed about owning but thought we could never afford. Of course with the bad economy though leaves the possibility of us still not being able to obtain said houses due to low credit scores no thanks to relatives in my case.
Now if you were one of the lucky ones to be able to obtain one of these affordable houses you were lucky enough to receive the first-time homeowners tax credit of up to $8,000. Although, recently when I was watching the news, I believe, they mentioned an additional $2,500 tax credit for first-time homeowners but I’m not sure why or how long that might be for. If you have been in a home from 5-8 years you could still qualify for up to $6,500 but with both of these tax credits. You need to make sure you have the contracts in before April 30, 2010 with closing by no later than June 30, 2010 to be able to use the 2010 Homebuyer Tax Credits. Single people have an income limit of up to $125,000 and married couples $225,000.
I have been searching on and off for houses for years. I was never sure if I should take on that responsibility and now that I want to I cannot due to my credit score. Renting just seems senseless at this point because I’m only helping the owner pay of their mortgage and essentially wasting money paying rent every month because my money isn’t being used for a home for when I grow old and become retired. I do not want anything too terribly big in the house but the yard I’d love to get at least an acre. What kills me is by the time I’m really ready there will not be any sort of incentive like this.
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