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Archive for the ‘First Time Homebuyer Tax Credit’ Category

Question: 2008 Tax Credit to aid first-time homebuyers:?

In early 2008, I purchased a home and was able to receive a credit of $7,500.00 at tax time to be paid back over 15 years, interest-free. Now this question will be open for a while… The question is this: Can the 2008 Home Buyers Tax Credit be refunded by any means? I mean don’t get me wrong, I certainly appreciate this credit (which has allowed me to stay in my home through tough times), but wish I would have been so lucky to have purchased by first home in 2009 where the EIGHT GRAND is free money; fully forgiven:

So if you have any advice of any way to see if this credit can be changed, your answer would be much appreciated.

Answer: As of now, the 2008 credit has not changed.

You still have to pay it back over 15 years beginning with your 2010 tax return.

Harper’s First-Time Home Buyer Plan is Garbage

Question: How do I go about getting the $7,500 home buyer tax credit for young first time home buyer?

I have a pretty good credit score of 700+, nothing negative on credit report.. Only problem is that I don’t have a long credit history since I’m young, only 1 year and 5 months history.
I’m also not paying taxes. My boss pays me under the table, but would do otherwise if I ask.
Trying to learn about loans, grants, and what not..
I also have a savings which I could put towards probably 5 to 10% down payment….ADICE greatly Welcomed…

Answer: Well, the tax “credit” as it is called would still be for you, even though you don’t pay taxes. Note that the “credit” must be repaid, so it is really just a loan.

You do have an issue though. When you go to a loan officer to get a loan, they want proof of your income so they can determine how much you qualify for. As proof, they use your tax returns…….. That’s gonna be the problem.

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Question: Mortgage, Refinance, Debt Consolidation, Construction, Home Improvement…?

I’m a loan officer for Access Mortgage and Financial, we do 500+ credit scores. Contact me toll free at 877-LOAN-103 and ask for Josh. We do first time buyers, home improvement, debt consolidation, re-finance and more. We handle all credit scores, good or bad. Don’t ever pay for a loan application, they are free and can be done over the phone. You can contact me by phone, email, IM. Please only serious inquiries. We are currently licensed in 14 states
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First-time buyer mortgage at 8.5% was a mistake, says Halifax

Mortgage brokers shocked at 8.5% loan – as Halifax speedily takes down ‘dummy product’ from website A mortgage charging interest of 8% above the base rate and purportedly intended for first time buyers has appeared on the Halifax website “by mistake”, the company said. The bank published the terms of the 95% loan-to-value loan on the intermediaries’ part of its website, including that it had an …

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Question: 2008 real estate tax credit?

I bought a home in 2008 and received a “refund” check for $7325 as I was a first time buyer. Does this money need to be paid back? Or not, as is the case with the 2009 first time homeowners credit.

Answer: Yes, the one for 2008 purchases must be paid back over 15 years starting in 2011 with your 2010 tax return.

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This is not your father’s recovery. It might not even be a recovery at all. Debunking the myths of the new American economy

First-Time Home Buyer Tax Credit