Comments on: New Home Buyer Tax Credit- Q & A

By: Matt

Matt — Sat, 19 Mar 2011 04:13:40 +0000

I am unaware of an exception that would cover you.

Why did you sell? HUD could not force you to sell, if you were current on your loan.

By: Matt

Matt — Sat, 19 Mar 2011 04:11:28 +0000

Amber, if you’d like to contact me to discuss this matter privately, please contact me at my law office. Thank you.

By: Matt

Matt — Fri, 18 Mar 2011 18:01:01 +0000

I would need more details to answer your question.

DO NOT ANSWER THESE QUESTIONS ON A BLOG SITE, BUT YOU SHOULD TALK TO YOUR LAWYER ABOUT THESE THINGS- Why are you placing the home in a trust? Are you married? How old are you?

By: Matt

Matt — Fri, 18 Mar 2011 17:56:47 +0000

I would need more details to answer your question.

By: LILA HOWARD

LILA HOWARD — Wed, 02 Feb 2011 17:04:37 +0000

I purchased a home on 8/23/10. I actually have a habitat house. can i claim the ist time homebuyer credit?

By: Amber Chapman

Amber Chapman — Wed, 02 Feb 2011 05:23:22 +0000

I have a question. My spouse and I purchased 1st home in 2008 and got the $7500 credit. In 2010 we separated, I quit claimed the home to him and purchased a new home. Later in that year, we reconciled, he moved into the new house with me and we listed the home to short sell. It’s been on the market, vacant for 6 months now..
Tax question… Do we have to repay the 7500? Or should we file separate and I say that I gave the house to him and taking the responsibility away from me? Then it’ll still be considered his primary residence in 2010 since he was there most of the year and we just pay the $500 on the 2010 taxes, and then hopefully it’ll sell soon and we wont have to pay the rest for the following years since there will be no gain?

PLEASE HELP!

By: UJ

UJ — Tue, 01 Feb 2011 23:52:16 +0000

My husband and I bought a house in April 2008. We received the $7,500 tax credit. In October 2010, we received notification that the Housing Authority (HUD) had purchased two units in our building, the building across the street, the building pads and property. They received federal monies to purchase foreclosed property. My husband and I were not in foreclosure but the construction company who built our condo went into foreclosure. After a long fight, we were able to sell our condo to HUD. My question is: Is the a way to not repay the tax credit due to the circumstances? We were basically forced out of our home. Thanks in advance for you help.

By: Rio

Rio — Sun, 30 Jan 2011 16:06:49 +0000

Hi, my husband and I bought a house in march 2005 and lived there for over 5 years and bought a 2nd house with a closing and purchased dated of 6/25/10. Do we qualify for the 6500 tax credit? Thanks! Btw we still own the first house as well.

By: John Florance

John Florance — Wed, 29 Dec 2010 19:40:54 +0000

I received the new home buyers tax credit and now I want to place my home in a Living Trust. Will have to return the money to the government?

Thank you

By: sandy funcannon

sandy funcannon — Mon, 18 Oct 2010 22:08:49 +0000

I am a first time home owner, but I didn’t close on my loan until 9/3/10. Have you heard anything as to the $8000 credit being extended beyond the 7/1/10 date? My realtor said they have heard talk about it.
Thank you