Financing in 46545>Question Details

Kim, Other/Just Looking in South Bend, IN

is there a government rebate on a home you've owned for 14 year & want refinance?

Asked by Kim, South Bend, IN Fri Dec 4, 2009

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No, the rebates available currently are intended to stimulate the economy. New Buyers and Aid for Sellers selling in a "Buyers Market". If you sell your home to purchase another the $6,500 credit may apply (talk with a tax professional for details). Congrats on finding a home you love so much, but if you choose to sell in order to take advantage of the current market conditions you will want to contact a local Realtor.
0 votes Thank Flag Link Sat Dec 5, 2009
no. Refinance is not a repurchase, it is a new financing on the property you already own. You can not sell yourself the property.
0 votes Thank Flag Link Fri Dec 4, 2009
The only government rebate available is the home buyer rebate. If you were to sell that property and buy another you would qualify for $6500 assuming your taxes allow for such a rebate.

Sean Dawes
0 votes Thank Flag Link Fri Dec 4, 2009
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