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Can someone shed some light on this 8K credit with Obama's deal for home purchases. Is this only for first timers?

by jburger from , . Aug 3rd 2009 Reply

Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

It is for First Time Home buyers. However, the definition of a first time home buyer simply means that you have not owned a home for the last three years. So if this will be the first home you will own within the last three years you should qualify. That said, the opinion of a professional taxpreparer should be sought before you make your decision.

Aug 4th 2009
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