Comments on: $8,000 Home Buyer Credit FAQ | Realtor Coaching

By: Shelia Gilliland

Shelia Gilliland — Mon, 13 Jul 2009 22:37:55 +0000

In researching the actual IRS tax Form to see how it reads, I have found the Form 5450 is wrong and the correct Form is 5405 according to the IRS Printouts. I can’t find a Form 5450. Guess some numbers got misplaced some where down the line. You can go to the IRS website and pull it up. FYI Sharing the info!.

Shelia

By: Tim Harris

Tim Harris — Wed, 01 Jul 2009 17:31:53 +0000

Hi,
Thanks for the feedback and compliments!
We too are researching this….I am working on discovering the answer for you now.
Tim

By: Mirella McDonough

Mirella McDonough — Wed, 01 Jul 2009 17:24:27 +0000

Hi,

I love your blogs and current news! I am a member and am curious to know whether or not you know that the $8K credit to be used for downpayment and closing cost assistance is not being accepted by the lenders is what i am hearing from my mortgage broker. They don’t know where the money is coming from. The government has not ironed all the details so is this one of the ignored solutions that never make it, like HOPE was?

You do a great job of finding things out. Can you investigate this or if you know of any inside information on how the government will supplement this $8k back to the lender, I would love to know! I have two buyers under agreement that I could get excited about this if the credit can actually or is actually being used now by a buyer to put down. I know that the buyer must satisfy the 3.5% down payment before they could use the credit.

Thank you and keep up the great motivational messages and news you bring to us!