Housing Credit Extention

[meresal]

It looks like a majority of the Senators are in agreement to extend it thru April, instead of June.

Also, they are adding a provision that if you have owned your current home for at least 5 years, you will be eligible for up to $6500.

http://www.latimes.com/business/la-fi-home-credit29-2009oct29,0,7286028.story


Personally, the June date would have been much easier on my mind, since they haven''t started on our house, but I''m glad that we at least get the chance to take advantage of it!

 

[noelwr]

I don''t live in the States, but that does sound good.

we''ve had problems here in Holland with one of the banks giving out mortgages which people can''t actually afford. anyway, to make a long story short, the bank went broke. I have a loan with that bank to pay off my car and I thought Great! I don''t have to pay off my loan anymore but apparently it doesn''t work like that. I obviously understand nothing about finances. so some other bank will buy up this one and I''ll still have to continue paying it off.

however, we did benefit from a temporary subsidy that the state is giving to owners of homes whose buildings are older than 1985. if you put in double-glazing windows and thus save on energy, the state will help subsidise the costs. we didn''t know this in July when we had the windows put in, but we can still claim the payback, so score for us!

meresal - on another post I read that you are "with child"

so I wanted to congratulate you!

 

[meresal]

Date: 10/29/2009 11:01:15 AM
Author: noelwr
I don''t live in the States, but that does sound good.

we''ve had problems here in Holland with one of the banks giving out mortgages which people can''t actually afford. anyway, to make a long story short, the bank went broke. I have a loan with that bank to pay off my car and I thought Great! I don''t have to pay off my loan anymore but apparently it doesn''t work like that. I obviously understand nothing about finances. so some other bank will buy up this one and I''ll still have to continue paying it off.

however, we did benefit from a temporary subsidy that the state is giving to owners of homes whose buildings are older than 1985. if you put in double-glazing windows and thus save on energy, the state will help subsidise the costs. we didn''t know this in July when we had the windows put in, but we can still claim the payback, so score for us!

meresal - on another post I read that you are ''with child''

so I wanted to congratulate you!

Thank you!!

That''s great about the windows! What a nice surprise. The US just passed something like this as well. If you buy "Energy-Star" appliances then you can file it with the governemtn for a portion of your payment price back. I think it is between $50-$250 per appliance, up to like $1200 per household.

 

[Morgie44]

Meresal - Do you know where you saw that about the Energy Star appliances? We just bought a new w/d and dish washer and am hoping they may qualify?

 

[meresal]

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

If I am in my car or around the house on Saturday mornings, there is a guy on the radio (usually AM station) that is like a "House Guru" and talks about everything house related! I pick up so much random information!

ETA: Morgie, It looks like it will be a state by state program. What state are you in? I can google some updates for you.

ETA2: Each State program proposal was due to the DOE committee by Oct 15, 2009, and once they are reviewed the funds will be delivered to each state as they see fit. It said there should be updates by late 2009. It also says that each state will make its own decision on whether or not the rebate will be retroactive.

 

[Morgie44]

Thanks, we are in IL. The link says that products purchased now will probably not be eligible... It seems with these things, they get less generous when the program actually rolls out so I guess we are SOL... Oh well, I''d rather have had the w/d for the past few months and not have to lug laundry to the laundromat than have waited for a rebate. Sorry to have thread-jacked!

 

[Hera]

I bought a washer and dryer in San Diego on a Sunday and because I didn''t call that same day, I was declined the rebate.

I''m glad they''re extending the housing credit. It seems like there''s still quite some inventory and winter is coming.