Will I get a check for $7,500 from the governments housing bill?

Question

Will I have to wait until April of next year to get it? How does this feature work in the housing bill?

Answer 1

You have to wait until you file your taxes.  You will not receive a check.

Also, read the fine print.  It isn't even a true tax credit.  You will be able to claim the tax credit if you are a first time homebuyer and your income is below $75,000 per year (more if you are married).  YOU HAVE TO REPAY THIS CREDIT AT $500 PER  YEAR FOR THE NEXT 15 YEARS.  If you sell the house before the 15 years is up, you will OWE IT ALL IN THAT TAX YEAR!!!!  

Yikes!

good luck!

ps - more credit for homebuilders than homebuyers.  Once again the government caves to big business interests and screws the citizens.

Answer 2

they are not just passing out checks for $7,500. The housing bill is for 1st time home buyer that quaife for the $7,500 down payment assistance.

Answer 3

no you have to wait

Answer 4

Check?   No it is a tax credit for first time homebuyers who buy bank owned homes.

No check, just tax credit.

Answer 5

What government? What housing bill?

(It would really help if you could at least say what country you're talking about!)

Answer 6

never heard of anything about it.

Answer 7

It is not a check....tax credit only.