Brad....Have u filed and been turned down? I just bought my house from my mother and paid a little more then it is even worth. The tax paper says "acquire" not purchase from a relative. I have been told it just depends on the IRS agent who looks at my request.....

So Obama is worried that the housing credit that people could really use is going to increase the deficit, but not worried about increasing the deficit by trillions with bailouts, stimulus pork packages, and insanely expensive Obamacare?

Unemployed: You are so right. Notice who they said this tax credit would help-- mortgage lenders, real estate firms, insurance companies. Insurance companies are bleeding us all dry, and wasn't it the mortgage lenders and the real estate firms that got us into this mess in the first place? Why do they need help? They should have made a bundle the last time they swindled the American people to last them forever. Here we go for round two of the housing bubble and then bust nonsense. Good luck to you, though, I hope you can make it through and keep your home.

there is no help for us. they congress can't even pass a bill to extend UI benefits without a bunch of repuks 13 to be exact voting agaisnt it. i may have gotten lucky if the paper work goes through that i signed today to sell my house. just to protect my credit i sold my house at a lose and had to give the buyer $7000 at closing. thank God i had the smarts to stay in my conventinal loan and not live high on the hog by takeing money from my equity. when all is done i hope to get $311 out of my house after 6 years. SO as to the rest of you on here and( i don't mean you UNEMPLOYED) i am unemployed as well..... quit your belly aching get off your duffs e-mail your legislators and tell them where there screwing up. Or kick back and enjoy the life that they have given us

Ummm...Help you how? Your unemployed! That translates into no payments. Are you serious? Let's see, no ability to pay a loan back. Sorry but I'm assuming that you expect us to pay your house payment eh? I'm already taking care of to many deadbeats, they are called welfare rats. You know, the kind that have no problem sucking off of us and refuse to work? I'm sure you comprehend what I mean? Maybe you need to sell your house, and go rent. Oh, that's right, no payment there either. Geez. Maybe you can live with relatives? Oh, that's right, they expect you to help with the bills eh? Guess they won't let you stiff them, but it's okay to stiff me? NOT!

Unemployed,

Fight your foreclosure. The foreclosing institution must prove they OWN the mortgage in court. They MUST "produce the note" and not a copy. Check your county records to see who/whm is the recorded mortgage holder. If the listed mortgage holder is not who/whom is foreclosing, then your note was sold. Also, your county LOST tax monies from no recording of DOC STAMPS. Call your county commission and tell them they are losing tax dollars and these tax dollars are not from citizen's pockets.
http://www.consumerwarningnetwork.com/2008/06/19/produce-the-note-how-to/

I could not agree more and I am mad as Hell!!!! I am a 45-year-old Construction MRG. And have been unemployed for over a year. Unemployment helps but my family and I are sinking.
What help do I get??? I cannot refy with out a job, even though it will save me $700 month, plus pay off my truck. Wow, that would buy me some time, no brainer right. Wrong, I have tried to refinance with half dozen banks and even my current one, but they all stated some new banking rule(s) prevent them to refinance my home, which I have been in for 13 years and have excellent credit. I even had a co-borrower, still declined. I can pay my bills now, just think how much better it would be if I could save $700 a month. I guess since this makes perfectly good sense to the working class people I talk to, it must mean the bankers/ lenders, Wall Street and our elected officials do not understand that logic. I guess when I default then the taxpayer can bail me out. Oh, by the way unemployment is considered income when I apply for ANY public assistance programs. At which time I do not qualify for that help. But when I try to refinance it is not considered income????

you are leaving out too much info. on your situation. your choice to keep your old house is not realivant. apprently you were able to secure financing for the new one so what is your problem . you feel as though you as a multiple housing owner should be given a tax credit. what then you parlay that money into a 3rd property. you need to get a life as a matter of fact how can you even be buying a second home knowing that the housing market is as bad as it is and you wouldn't be able to jerk the money you need out of the old one . i suspect you are playing the market at the exspense of those that truly need the tax credit. quit your belly aching and count yourself lucky you haven't lost your home like the millions that have and also the ones that tryed to protect their credit by selling their homes for what they owed after years of paying for them only to be caught in an unemployment situation with so many forclosures that drove the price down. yeah you stimulated the econemy alright who do you think you really helped THE BANKS

You are wrong about the 20% down. There are still 100% government financing programs out there. And yes this tax credit is helping the housing market. A lot of first time home buyers are purchasing homes because of this incentive. I know this because I am a realtor and most of the customers I work with are first time home buyers.

The $8k credit is to be used for the down payment and closing costs and this is/was the purpose of the credit. The rule is 10% of the purchase price or $8k whichever is the LOWEST as the rebate. That is an $8k down payment or you can put that $8k into a second at a low interest rate for repairs to a re-hab. The $6.5k is for those who have lived in their homes for 3 to 5 years can't recall but that is to keep those from selling their homes. The accountant might be able to count the last 3 to 5 years if you are unemployed since it doesn't mention you do have to be actually employed. If there is an unpaid tax for instance then it could be applied to that I would think if you have a good accountant/JD. What this is telling me is that prices are going to erode further with increasing interest rates coming.

This country was not built to help poor people. Unfortunately, for you. Its driven for those who have marginal success (the middle class). That's so capitalism could work. If not there would be revolution every 20 or so years. The 1% controls the masses and the money. I am not a marxist. I am just striving like everyone else here to become part of the 1%, lol.