Where are the First-Time Homebuyer’s Checks?

With the recent talk of raising the first-time homebuyer credit, one important question is still open: why are the current checks taking so long to go through? No one expects the tax credit to be instantaneous, and of course the IRS will need to validate each claim. But reports of delayed tax credits are pouring in — and when the tax credit is a key part of financing a new home, this has people nervous.

Some people are in no mood to wait for the check. Several states have found a way around this: HUD is starting to lend people money backed by the tax credits, for certain mortgages. And several states have taken matters into their own hands: here is a list of states that lend new homeowners money to tide them over until the tax credit arrives. For many new home buyers, this can be a good way to stay afloat, but in most cases, it’s best not to rely on that tax credit as the only way to close a new home purchase.

83 Replies to “Where are the First-Time Homebuyer’s Checks?”

  1. I have been waitining since June 2, 2009. I keep getting letters requesting more and more information. I have now filled my 2009 tax returns and will get my refund from my regular taxes before this. Amazing!

  2. The IRS received my amended 2008 return on 11/5/09. I called last week and they say that it’s at the Examiner’s office. Not sure what that means, but they said it could take 12-16 weeks total processing time. It doesn’t sound realistic from the comments on this page. I sent my amended return to Fresno, and I hear that it takes the longest from this location.

  3. I’ve been waiting 24 weeks so far. A few weeks ago I called the IRS and they said they needed additional information and would be sending me a letter. Then I would need to wait another 6 weeks, but will more likely be 6 months. By the way, the IRS claims they sent out the letter on the 16th – today is the 29th and it has still not arrived.

  4. DO NOT BE FOOLED!

    Be prepared to wait 12 months in order to receive this credit after filing! 8 to 12 weeks is a lie!

    BE WARNED! The IRS is extremely behind on these filings.

    Thanks,
    5 months for me and still waiting.

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