Heather,Did you buy the home already? If so you will not have to start ... is that two years later you have to start payingback the credit over the next 15 years. If you sell the home ... Read more
The seller can assist you with closing costs! Talk to your agent or the mortgag ... the $7500taxcredit. It is just as it says...a taxcredit. That means you would have to purchase your ... Read more
Hi Brittaney - My advice is to speak your tax person on this, they will know bes ... received $7800.00 instead of $7500.00, but Ido think you should check with your accountant. I've posted ... Read more
Hi RachelThat is a great question. I am attaching some information for ... was not addressed, you do not have to pay 2008 creditback if your loss was greater than the credit.Your basis ... Read more
4 to 6 or less but maybe higher John Bennett Kayak - if I understand you ... 's just my opinion. Have you heard anything to indicate that they would even think about doing that ... Read more
Kristyr: I hope you will re-think this offer.There is absolutely no ... only loan? Can you add depreciation or depletion back into your income on your tax returns? Can you do ... Read more
Yes! You have to give that back. Even if you are not foreclosing, you have to pa ... . If there are any Real Estate questions you may have, I will domy best to answer them, or find the answer for you ... Read more
The tax credit is just that, a credit for what is owed on your taxes which is ... if you can get that included in the deal.The revised $8,000 taxcredit (was $7,500) is a great ... Read more
Good question!I have posted the information on my website, so please tak ... .http://www.linnin.info Brian Butterfield Looking,I think what you are referring to is the $7,500 federal taxcredit ... Read more
We did our taxes and was only able to get 7,500 for first time homebuyers and ... should not have to pay this back with the new taxcredits. Homeowner427 ... Read more
Not yet. That is a provision that has been added to the current stimulus bill ... is for first time home buyers only and is a credit not a tax break. Like a grant , it requires to be paid back ... Read more
The House passed a bill. It may look very different after it gets out of the ... taxcredit and has nothing to do with your mortgage. Last year there was a program with $7,500 which ... Read more
That is correct, if you file as a single person you are eligible for half. ... 2009, you may take advantage of the taxcredit. You actual taxcredit can be as much as $7,500 against ... Read more
P.R., you may file an amended 2008 tax return on Form 1040X. (Form 1040X is ... of the taxcredit will be paid to you. You do not have to pay it back. I hope this answers your question ... Read more
My feelings are that if this 2009 stimulus package does not work, then the 2010 ... credit. Along with the $500 delta, you, unfortunately, are required to pay your taxcreditback over 17 ... Read more
Congress is actively considering an expanded home buyer tax credit, and the ... that "credit"! Seems that many people are misinformed...YOU DON'T PAYBACK EVERY DIME!!! My wife and I were ... Read more
Yes, Amanda, you should qualify for the increased amount of $8,000. But you ... ,You need to amend your 2008 Tax Return to get the difference of $500. In doing so you wouldn't have to pay ... Read more