Our Vision:
To become the benchmark by which all others are judged.


Overview




  • In 2008, Congress created a $7,500 First-Time Homebuyer Income Tax Credit. It went into effect April 8, 2008 and was set to expire July 1, 2009.


  • One of the criticisms of the credit was that a homebuyer who received the tax credit had to repay it over 15 years.


  • It has been modified and has new rules effective for homes purchased on or after January 1, 2009 and before December 1, 2009.


  • One of the key modifications is that in most circumstances the homebuyer does not have to repay the tax credit.