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Designed to jumpstart the U.S. economy, the Economic Stimulus Act of
2008 will supply economic stimulus rebates to more than 130 million American
households beginning this month.
This rebate is available to everyone who filed a 2007 tax return. The
Act provides a rebate of $600 for a single person or $1,200 for a married
couple filing a joint return. In addition to the basic rebate, the new law
provides an additional $300 for each child under the age of 17. The rebate is
phased out for taxpayers with an individual gross income of more than $75,000
or $150,000 for married couples filing jointly.
So how will you spend your rebate? The government wants recipients to
spend it on goods and services to pump up the economy, but many financial
advisors are recommending that recipients pay down debt or save money for the
future. However you decide to use your check, the Economic Stimulus Act
provides you with some needed relief.
American Equity Mortgage can give you further financial relief by
refinancing your current mortgage. Rates are still at historic lows, but there
are signs that these low rates won’t last much longer. Lock in to a low, fixed
rate and save hundreds of dollars every month. Not only will you have more
money available each month, but you’ll also have the peace of mind of knowing
that you’re in a better place.
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