Comments on: IRS Releases New Information, Forms for Home Buyer Tax Credit http://homebuyertaxcreditblog.com/2010/01/16/irs-releases-new-information-forms-for-home-buyer-tax-credit/ Updates about the First-Time Home Buyer Tax Credit and "Step-Up" Home Buyer Tax Credit for long-time homeowners Tue, 31 Aug 2010 15:36:01 +0000 hourly 1 http://wordpress.com/ By: Joseph Rand http://homebuyertaxcreditblog.com/2010/01/16/irs-releases-new-information-forms-for-home-buyer-tax-credit/comment-page-1/#comment-38 Sat, 16 Jan 2010 22:28:25 +0000 http://homebuyertaxcreditblog.com/?p=81#comment-38 Hi @Amy, thanks for posting your question. I’m a little confused because you say that you bought your place in March 2006, AND are a “first time home buyer.” I guess maybe you mean that your March 2006 purchase was your first home buying experience. Unfortunately, under these facts, you would not be eligible for either the first-time home buyer tax credit or the “step-up” credit for long-time homeowners. The reason is that you have not owned your current place for the requisite five consecutive year period, since you only bought it in March 2006 (that gives you upwards of 4 years this upcoming March). And you’re not a first-time home buyer if you currently own that place you bought in March 2006, because to qualify as a first-time you can’t have owned a home within the three years prior to closing — and you apparently own your own home now. Sorry to be the bearer of bad tidings. Let me know if I’m misunderstanding your question, though.

By the way, refinancing doesn’t matter at all. You can refinance all you want. The issue is whether you’ve owned your own place, and for how long.

]]> By: amy wilder http://homebuyertaxcreditblog.com/2010/01/16/irs-releases-new-information-forms-for-home-buyer-tax-credit/comment-page-1/#comment-37 Sat, 16 Jan 2010 20:30:14 +0000 http://homebuyertaxcreditblog.com/?p=81#comment-37 I bought my place in march of 2006. I am a first time home buyer.Am i able to qualify for this.I also refinanced in January 13 2009.I have all my documents.

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