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Answers (4)
- James Peters, "JamesRPetersSr"
- Contributions:98
As long as you stay in your home and it is your primary residence you will not have to repay the credit. After three years is up you can do whatever you please with it.
- Michael Emery, "MikeEmery"
- Contributions:7298
As long as the home remains your primary residence, you wouldn't need to repay the $8,000. The idea of the program was to get 1st time homebuyers into homes. So as long as you remain in your home for the duration of the three years, repayment is not an issue.
- wetdawgs
- Contributions:26854
The tax credit documents at www.irs.gov focus on the property remaining your primary residence for 3 full years, and do not comment on financing. You may wish to communicate with them to verify my interpretation.
Will I lose my 8000 first time home buyers tax credit, if I refinance. I bought the home 5/09.
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