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.
- One online commenter complained of a 12-week wait for the check, which hadn’t arrived yet.
- Other commenters are asking when the check will arrive — the answers indicate that it takes ten to twelve weeks, but there’s lots of confusion nonetheless.
- Other estimates for how long the credit takes imply a wait of 12-16 weeks.
- Some people are even less lucky. One of them had to wait fourteen weeks — to find out that he needed to send the IRS more information.
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.
My Husband and I applied for first time home buyers 4 months ago and on the 13th will be 4months and 1 week. It has been taking soooo long but were being patient lol
It has been 21 weeks since my husband and I filed for our homebuyer credit, and we have yet to receive anything from the IRS in the mail, not even anything saying we’re being audited. I called about 2 weeks ago and they said if we didn’t receive anything in the next 30 days to call back again. I honestly feel like it may never come! 🙁
PLEASE…I need hope. Please write if you have recieved yours. I am currently speaking with a “representative” who says my check is still being processed, but will be sent out Feb 12th. I then told him if I dont receive it shorty after that, I will call and I have his name and badge number. Then he put me on hold again to verify a time frame of when I can recieve the check after it is mailed out. He quoted me 2 weeks from Feb 12. I plan on writing back as soon as I get my check, to let everyone know what happened. Good luck to everyone!
This whole thing seems to be a scam. Bullshit, actually. There is money out there. We are building new stadiums and paying rich athletes and entertainers. Where the hell is our money???
Filed in October. Waited 8 weeks before I started calling. Was told in December I would get a letter asking for HUD1 form and utikity bill. Never received letter since they mailed to my old address. Nevertheless I mailed additional documents on my own. Meantime Jan 4th I get a property tax bill for suplemental taxes due in 30 days. Call IRS hotline again Jan 5th to see if they received HUD1 form yet. They stated they have all the paperwork and will send me a letter in 30 days telling me of their “decision” to grant me the credit. LOL!! This is a load of xz!o! And I hear folks say, well it’s free money!!! No I don’t think so…I would have bought a home regardless of credit, but the promise of a credit by my goverment certainly help motivate me to move faster and the bill I received for more taxes came 30 DAYS after I moved in, it’s not free money, it’s my money. Well Jan 15th, called again and was told that I was still in processing, they gave me a 800# for the EXAM ROOM that no one anwsers. Jan 29, called again, was told someone from exams would call me. No call of course. Feb 2nd, still in process, they said I have to wait until after FEB 5TH to request the help of a tax advocate since I will be at 17 weeks at that point. LOL! Outrageous is all I have say. Meantime my home need repairs and they want more property taxes.