You have probably heard about the first time home buyer credit. The old rules were you received $7500 tax credit that needed to be repaid over 15 years on your taxes. To me that's a interest free loan versus a true credit. Well home buyers you asked for it and now we have it.

If you are a first time home buyer and purchase prior to December 1, 2009 you will received $8000 in free money. That's right free, no repayment.* Now you are probably thinking I dont want to have to wait until I file my taxes next year to get that $8000. Even better news, you dont have to.

That's right if you have purchased the home prior to April 15, 2009 you can contact a CPA to have them amend your 2008 taxes and get you that $8000 as soon as you close on your new home. Already purchased a home this year and need help amending your 2008 taxes? Contact Gail Joubran your Orlando CPA, Certified Public Accountant at beancounter15@hotmail.com or 407-324-6181

So lets see what can you do with that $8000 of free money, purchase furniture for your new home, remodel the new home, go on a trip, borrow money from your parents for a down payment and repay them right away with your tax credit. Want more creative ways on how to apply this $8000 to lower your payments on your new home? Then contact your Orlando & Lake Mary area First Time Home Buyer Specialist, Heather Joubran Heather@heathertherealtor.com or call at 407-810-6304.

* You must keep the home for 3 years otherwise you must repay the funds.

As a first time home buyer specialist I can help you find down payment assistance, find that perfect financing that meets your needs and find that perfect house to call your first home.