Economic stimulus plan will offer tax filers refunds of $600-1,200
Original post made on Jan 24, 2008
As part of the agreement reached today, refunds will go out to approximately 116 million families, according to the Associated Press. Individual tax filers are eligible for $600, while joint-filers are eligible for $1,200. Families with children will also be eligible for an extra $300 per child.
Read the full story here Web Link posted Thursday, January 24, 2008, 3:31 PM
on Jan 24, 2008 at 7:04 pm
This is actually a very good thing. I'm in the business and have been doing mortgages for a long time. I'm not just saying this because of the business. People like me are doing a great business through all the turmoil. This is no different than when interest rates were 16%+ in the 80's and no different than the liquidity crunch of the 90's. The move upward in the conforming limit would mean many troubled homeowners and non-troubled could refinance at lower rates. Many can buy now that wouldn't be able to buy otherwise and I'm speaking of responsible wage earners or business owners. They will still have to qualify for the loan in terms of income, assets, and credit. California and other states are far behind the standard in terms of the conforming limit. Hawaii and Alaska have higher conforming limits. Other high cost states should have the same. $625,000 would still not be enough for some people in New York or California to purchase under first time buyer type programs.
(portion of comment removed by PW staff)
on Jan 25, 2008 at 5:23 am
Gee -- TJ's post so smacks of advertising.
on Jan 25, 2008 at 6:40 am
I hope the weekly deletes his post or charges him for advetising on here. Half his post is advertising and the other half is him talking himself up.