I’ve had many individuals ask me about the specifics of the recently passed $8,000 First-Time Homebuyer Credit. It can be somewhat difficult to explain in layman’s terms so I have included the following link to the National Association of Realtors website, which clearly explains every aspect of the credit. Bottom line, what an amazing time to be a first-time homebuyer! Low home prices, historical low interest rates, and up to an $8,000 credit which does NOT need to be paid back to the Government. WOW!!!
http://www.jayagoado.net/blog/First-Time-Homebuyer-Tax-Credit[1].pdf