Does anyone else find this weird/BS!?!?!?

[Nix]

Read #14 and tell me how you interpret it>>> :stare

http://www.federalhousingtaxcredit.com/faq2.php#14

[wrath]

What about it?


The not as amusing part is that the first time home buyers (can't have claimed the principal residence exemption/credit on your taxes for the last three years) get the credit. These are the people that were priced out of the the market during the boom years.

The amusing part is that the moveup/repeat homebuyer credit is available to only people who have claimed the principal residence exemption/credit for five CONSECUTIVE years in the eight year period leading up to the new purchase. So, essentially they are rewarding the people who took advantage of the boom (sold three tax years ago but owned at least 5 years prior to that) or those who got in just before things got out of control (bought five tax years ago). Essentially leaving the people who bought at the peak hanging out to dry, using their tax dollars to give their new neighbor a cheaper mortgage payment further eroding their will to pay their mortgage.

There is something seriously wrong with this country and while I never really much cared for Obama I figured he had some kind of plan. I don't see a plan in this case. I don't understand what his reasoning for such stupidity was. Should have just made it such that you have to live in the house for 3 years in order to get the $6500 and not pay it back and left it at that.