I sent out the following message in an email to the agents at Century 21 Beal yesterday. Within 24 hours I heard that a competitor had taken the message and sent it out WORD FOR WORD as coming from them. I am flattered but surely they would want to at least re-write it in their own language..... But, back to the important topic - BUYING A HOUSE IN BRYAN & COLLEGE STATION!

The 2009 First-Time Home Buyer Tax Credit was passed into law in February 2009. This credit is available for first time home buyers only who purchase and close on a home in 2009.  A first time home buyer is someone who has not owned a principal residence during the three year period prior to the purchase. So, you could actually have owned a home in the past and still qualify. You also must be a U.S. citizen and file your taxes... AND you don't have to pay it back! (unless you sell the house within 3 years after you purchase it....)

Of course there is a bit of fine print. If you are single or head-of-household you can claim the full $8,000 credit if your modified adjusted gross income (MAGI) is less than $75,000. If your income is between $75,000 and $95,000 you may be eligible for a partial first time home buyer tax credit.  Married couples filing a joint return can earn up to $150,000 a year and still qualify for the full credit but if your income is between $150,000 and $170,000 you are eligible to receive a partial credit. If you are a single tax payer and your MAGI is greater than $95,000 or a married couple with a MAGI exceeding $170,000 you are not eligible.

Now the sticky part ....

Guess you'll have to go to SusanHilton.com to see the rest....