Patrick M. Korth & Rebecca Hoag
Patrick (702) 596-7611 & Rebecca (702) 461-5787
Patrick (702) 596-7611 & Rebecca (702) 461-5787
Home Buyer Tax Credit
Posted on December 15, 2008
If you're wondering, "Do I Have to Pay This Back", please read.
First time homebuyers who purchase a principle residence between April 9, 2008, and July 1, 2009, are eligible to receive up to a $7,500 tax credit. The tax credit is not completely free money. It has payback provisions that make it similar to an interest free loan.
First time homebuyers who purchase a principle residence between April 9, 2008, and July 1, 2009, are eligible to receive up to a $7,500 tax credit. The tax credit is not completely free money. It has payback provisions that make it similar to an interest free loan.
Two years after the credit is claimed, repayment must begin so the credit is paid back in full within 15 years. If the home is resold before the credit is repaid, the seller must immediately pay the outstanding balance. But if the home is sold at a loss, then nothing is owed. For more information, visit www.hud.gov.
Jeff Brick
Windermere Services Nevada
Director of Recruitment/Attraction
2200 Paseo Verde Suite 160
Henderson, NV 89052
(702) 808-4242 Mobile
(702) 432-4600 Office
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