The Federal Tax Credits Blog

Question: Is there a way to receive the first time home buyers credit before the home is purchased?

I read an article on yahoo news that claimed that you could actually use the first time home Buyers Tax Credit as a down payment on your home as long as the home is bought by November 30, 2009. Is this true? Should I file a 1040X if I have already filed my 2008 return?

Answer: No the mortgage and title has to be in your name in other words you have to prove that you did indeed purchase the home. Not that I promise to

Home builder Horton reports first quarterly profit since 2007

Foreclosures are mounting, and loan requirements are still strict.

Project Economy: First Time Home Buyer Credit

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