From the information I have, I'd say its possible that she may be required to pay back a prorated amount. You can contact an attorney or a tax accountant to confirm. Below is the information I have reguarding the 2 tax credit programs.
Customers that purchased in 2008 and received the $7500.00 new home buying bonus has to repay those funds. Â The IRS will deduct $500.00 a year from the customer's refund or if no refund, will collect $500.00 a year in repayment. Â At the end of 15 years, the loan is repaid in full. Â If the customer sells prior to that time, they will be required to repay whatever balance is remaining. Â This is all done thru their tax returns and not at closing, but that additional expense may impact their sale. Â
Customers that purchased in 2009 and 2010 and got the $8000.00 bonus have only one stipulation. Â They need to live in the home for 3 years to extinguish the debt. Â If they sell prior to 3 years of ownership, they will owe the IRS a prorated portion of the $8000.00.
Ebby Halliday Realtors