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The $8,000 tax credit is a great incentive if it actually goes to the first time homebuyer. Here is a situation where I was caught of guard. I had a buyer who closed on their new home in 08 and was eligible for the $7,500.00 tax credit. When he filed his tax return he was getting the full credit plus an added amount due to excess withholdings from his earnings during the year. He had already made several improvements to the home on credit and was planning to pay off the debt with the tax credit. Sounds like a good plan until … (4 comments)
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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