[frugalwarrior]

I'd just love to take $8000. off my mortgage. That would bring me down to $40,000 and I could pay it off in 2 years. Wouldn't that be amazing. Then I could actually use the mortgage payments to send my DS to school or have a retirement.Sure is nice to dream. :cheergrl: Go President O. Right.

 

[MomToTwoBoys]

Our mortgage is withdrawn from DH's checking account on the same day that he gets paid, so we pay it in full and on time every month.

 

[laura-n-sasha]

That 8,000 is a loan, to be paid off later. I'd rather go for the incentives to get solar panels and other stuff. You buy it and get the write off on your taxes. With our income becoming lower, we'd have less to pay. Well, maybe someday :vibes:

 

[Greebo]

That 8,000 is a loan, to be paid off later.

No, it isn't. Not anymore. In 2008 it was 7,500 and that was a loan to be repaid at 500/yr. Now it's an 8,000 outright credit. As in, you just took out hundreds of thousands of dollars in debt - here's some taxpayer money as a thank you.

 

[Ms. Clear]

I'd like it if home prices dropped just a bit more....we'd like to buy in the spring of 2010. We'll be out of debt with a plan to put 25% down on a little condo. Should be what we pay in rent now.

 

[mikandmari]

In my area, attractive, well-priced homes are selling. But we still have a huge inventory of big, plain-looking vinyl boxes surrounded by those cheap, fast-growing little ornamental pear trees.

Hopefully, one outcome of this mess will be the weeding out low-budget builders.

 

[Preston]

I'd just love to take $8000. off my mortgage. That would bring me down to $40,000 and I could pay it off in 2 years. Wouldn't that be amazing. Then I could actually use the mortgage payments to send my DS to school or have a retirement.Sure is nice to dream. :cheergrl: Go President O. Right.

I consider it to be a decent part of the stimulus as it only applies to first time home buyers. And it's not just giving it to anybody -- with the stricter regulations it is harder to get approved for a mortgage. You have to prove responsibility -- it's not like it was before the bubble burst.

There is the initial 'investment' of the taxpayer money for $8000 -- but there will be ways in which the government as a whole (local, state, federal) will benefit through property taxes, sales taxes (when we buy stuff for the homes) and also the home maintenance which will help keep local contractors afloat.

:bs:

 

[zivakgroup]

That's great to hear! The real estate market plays an important role in the economy and can have a significant impact on people's lives.