$8,000 To Buy a House
March 23, 2009 · Print This Article
If you live in the US and haven’t owned a house in the last 3 years, the government will give you up to $8,000 if you buy one in 2009. The money is a refundable tax credit, which means you get it even if you owe no taxes in 2009. This shouldn’t be your only reason to buy, but it is worth keeping in mind.
Where can i find more about the ( $8000 dollars to buy a house) i could not find it on Internet.
Try this link to the IRS form: http://www.irs.gov/pub/irs-pdf/f5405.pdf
If you take time to read that link to form 5405 you will see that this “credit” is nothing but a 15 year loan from the IRS! You have to pay it back in 15 installments. If the home ceases to be yours in that time you have to pay back the balance immediately.
@Thom – Actually the previous $7500 version was what you describe. The new version is a credit–not a loan.