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How's this for stimulating RE sales?

Started by newaccount
almost 18 years ago
Posts: 332
Member since: Jun 2008
Discussion about
Check this out- a $7,500 tax credit for first time suckers, oops, I mean buyers. Just kidding. This is a great deal for someome buying in Detroit or Ohio for $50k, a big percentage of the sale. In NY, that's one month's mortgage payment. http://www.federalhousingtaxcredit.com/
Response by anonymous
almost 18 years ago

The best is that its actually a $7,500 tax LOAN as you have to pay it back....

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Response by alpine292
almost 18 years ago
Posts: 2771
Member since: Jun 2008

This $7,500 tax credit is great news! Now I can finally afford to buy a 3 bedroom condo at 15 CPW!!!

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Response by nyc08
almost 18 years ago
Posts: 74
Member since: Feb 2008

actually most people in NYC probably wouldn't qualify anyhow since
it phases out after $75,000 for individual tax filers and $150,000 for joint tax filers.
so basically if you are single and make $95,000 you get no credit,
and if you're married and file a joint return making more than $170,000 you also get nothing.

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