First time home buyers (those that do not occupy a home that they own) can now get $8000 from the federal government just for buying a home. What a deal! Even better is the fact that the IRS will allow you to amend your 2008 return to get the money now or wait until you file your 2009 return, your choice. They will treat your purchase as if you bought it on Dec.31 of 2008. This tax credit does NOT have to be paid back as long as you live in the home for the next 3 years. For the full credit, you must make no more than $75,000 annually ($150,000 = married couple) and the home purchase must close between January 1 and Novemebr 30, 2009.
You need to do a couple of things:
1) Get Preapproved for a new mortgage: START HERE
2) Buy your new home.
3) Apply for the tax credit. Here's the form: IRS FORM
Additional information can be found at http://www.giveme8000.info/
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