$8,000 first time homebuyer tax credit
www.federalhousingtaxcredit.com. This program is available for 1st time homebuyers (a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. Purchasers who utilize revenue bond financing can use credit. No repayment for purchases on or after January 1, 2009 and before December 1, 2009. If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009. December 1, 2009. All revisions are effective as of January 1, 2009.