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Sandy55
My family ROCKS!!!
Member since 2/08 1219 total posts
Name:
Sandy
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First Time Home Buyer Credit question...
ok so our accountant said we do NOT have to pay it back.
Is this REALLY the case?
I mean..isn't it too good to be true?
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Posted 3/10/09 3:16 PM  |
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Prudential Douglas Elliman Real Estate
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Sandy55
My family ROCKS!!!
Member since 2/08 1219 total posts
Name:
Sandy
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Re: First Time Home Buyer Credit question...
ok..i looked it up..sorry!
Looks like we don't have to pay i back!
LINK
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| Posted 3/10/09 3:20 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: First Time Home Buyer Credit question...
Yup you do. $500 every year come off the top of your taxes. Not a bad deal if you ask me.
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| Posted 3/10/09 4:29 PM |
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SnickNNick
In our new house!!
Member since 8/08 2119 total posts
Name:
Nicole
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Re: First Time Home Buyer Credit question...
Posted by Mici C
Yup you do. $500 every year come off the top of your taxes. Not a bad deal if you ask me.
Nope, Sandy is right. The new one for 2009 is fully refundable and you don't ahve to pay back 
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| Posted 3/10/09 4:51 PM |
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enewedded
LIF Infant
Member since 3/09 272 total posts
Name:
Ellen
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Re: First Time Home Buyer Credit question...
if you purchased in 2009 it does not have to be paid back.
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| Posted 3/10/09 5:11 PM |
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donegal419
St. Gerard, pray for us.
Member since 7/07 7650 total posts
Name:
K
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Re: First Time Home Buyer Credit question...
LUCKY! we bought in 2008 and have to pay it back!!! oh, well. at least it's an interest free loan.
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| Posted 3/10/09 8:11 PM |
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cindy104
This is my "Baby"
Member since 6/08 1522 total posts
Name:
Cindy
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Re: First Time Home Buyer Credit question...
yes due to the stimulus plan, the new credit is 8000 and does NOT have to be paid back!
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| Posted 3/10/09 10:39 PM |
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ThePinkGoose
In Your Hands
Member since 8/08 4706 total posts
Name:
Nunya
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Re: First Time Home Buyer Credit question...
I had only heard about the previous one that had to be paid back. Either way, not too shabby but YAY for the new plan
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| Posted 3/10/09 10:46 PM |
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evenedan
Need a little sunshine
Member since 9/05 3843 total posts
Name:
D
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Re: First Time Home Buyer Credit question...
You don't have to pay it back, but you do need to make under 150K to qualify for the full 8K. After that (and up to 170K) the amount phases down. After 170K, you get nada!
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| Posted 3/11/09 12:55 AM |
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