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WHAT WOULD YOU DO IF:

If you purchased a house in 2008 and you are a first time home buyers, you can go get a loan of 7500. , intrest free, but you have to pay back $500.00 a year at tax time.. They take it out of your taxes each year...
If you bought one in 2009, you can get a 8000.00 doller loan and you don't have to pay it back at all...

Has anyone heard of this? Is this some kind of catch to this? I just can't believe it? WOULD YOU DO IT?

Answer Question
 
racingmomma

Asked by racingmomma at 6:23 PM on Mar. 8, 2009 in Money & Work

Level 1 (0 Credits)
Answers (7)
  • huh? sounds freaky to me. I insisted that every house we've ever bought we use a lawyer that met my needs plus I checked him out in several ways. I'd go to a legitimate lawyer about this. Don't do it.
    Anonymous

    Answer by Anonymous at 6:25 PM on Mar. 8, 2009

  • yeah its real, our friend got one.
    jeana

    Answer by jeana at 7:03 PM on Mar. 8, 2009

  • contact a lawyer or financial advisor to see if it would be a good idea
    sweetest-sin7

    Answer by sweetest-sin7 at 7:46 PM on Mar. 8, 2009

  • Its best not to do a first-time buy on your own unless you're some kind of expert on buying houses, policies, ect.

    I'd get in contact with some kind of legal advisor who can spot any loopholes or shady writings in a contract like that. The last thing you want is to sign paperwork for something that sounded good, only to find out you've been duped.
    .Peaches.

    Answer by .Peaches. at 8:03 PM on Mar. 8, 2009

  • I have already bought. Im asking about the first time home buyer tax credit you can get....

    thanks Ladies
    racingmomma

    Answer by racingmomma at 8:55 PM on Mar. 8, 2009

  • There is no paper work to sign,.
    racingmomma

    Answer by racingmomma at 8:55 PM on Mar. 8, 2009

  • These are the first time homebuyers tax credits. the current 7500 one that i see many people taking is a joke. I wouldn't take it for anything.
    Anonymous

    Answer by Anonymous at 9:55 PM on Mar. 8, 2009

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