Comments on: $10,000 California First Time Home Buyer and New Home Tax Credit Will Be Extended May 1, 2010

By: Matt

Matt — Tue, 13 Jul 2010 02:10:23 +0000

I would also like to know about not filing for the tax credit in the 14 days since close of escrow. It seems ridiculous for a first come first serve program to have an application period in which to apply. As with Tiffany I am also upset that my real estate agent or escrow company did not bring this important detail to light when they knew I was planning on getting the credit. I too hope there is some way around this filing period rule non-sense.

-Matt

By: Tiffany

Tiffany — Fri, 18 Jun 2010 01:56:48 +0000

Hello Jonas – I closed escrow on 5/12/2010 but have not yet filed for the $10,000 CA Tax credit. I just learned from my friend who is a real estate agent that there is a 14 day deadline post close of escrow that the application for the tax credit will need to be submitted by. It looks like my window of opportunity may have passed there. I’m very concerned and confused why this information was not brought to my attention earlier. Can you let me know if this is true and if so, is there a way around this or has my chances expired?

Thank you,
Tiffany

By: gloria

gloria — Fri, 21 May 2010 23:11:20 +0000

I have a question. I am a first time buyer on a condo and meet all the escrow dates to qualify for both the federal and state credits. My father (who owns his own home) is on the loan as a co-buyer because I couldn’t qualify on my own. I am the only person who will be living in it and paying the mortgage. Does this exempt me from receiving the federal and state tax credits?Also my loan person asked me if we could put the loan through as a second home for my father with me still on as a co-buyer (to speed the loan through as we only have a 2 week escrow, crazy I know). Does this effect my ability to claim the tax credits? Thanks!!

By: Jonas Kruckeberg

Jonas Kruckeberg — Wed, 12 May 2010 00:29:13 +0000

Dona,

Great question, I haven’t heard of any cancelling of the repayment. I’ve just known it as whatever you qualified for you received and there’s no retro activity on the more favorable credit. I will keep my eyes and ears out there and post any breakthroughs.

Jonas

By: Dona Pettijohn

Dona Pettijohn — Tue, 11 May 2010 20:29:49 +0000

Hi Jonas,

I purchased a condo in June of 2008 and received the $7000 tax credit that has to be paid back. After that tax credit then there is the $8000, and now the $10000 that do not have to be paid back. My question is do they have any plans to cancel the payback for the $7000. It just doesn’t seem fair to all of us who have to re-pay.

Thank You’

Dona

By: Monica

Monica — Fri, 07 May 2010 04:15:54 +0000

Jonas,

We are currently in the process of buying our first home. The home owners signed the contract early April. However, we are still waiting on the bank to sign off. Are we still able to qualify for the FTHB Federal Tax Credit or would we have needed the bank to sign as well?

Thanks,
Monica

By: Scooter

Scooter — Wed, 05 May 2010 09:43:50 +0000

Where can i find the application to reserve the tax credit? I’m due to close Jun 3

By: Dougles

Dougles — Mon, 03 May 2010 11:15:14 +0000

Hola, Interesante, no va a continuar con este artнculo? Dougles

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By: Jonas Kruckeberg

Jonas Kruckeberg — Tue, 20 Apr 2010 00:25:57 +0000

Thu Le,

First and foremost any where in California is eligible as long as you follow all the criteria. I just happen to market in southern California, but would be more than happy to work with you should you need a loan officer. We just may not have a chance to meet due to distance.

Also, to make sure YOU can take advantage of the tax credit, it’s best to get your CPA or tax preparer involved so they can take a look at your specific scenario. If we were working together I would take your documentation and send to my CPA for clarification or back to yours with examples of what we are trying to do.

hope that helps, call me or email me at jonas@jonasloans.com if you need more info.

Jonas