New Home Buyer Credit 2008 vs 2009


N

N Owen

In looking through forms for the 2009 NHBC, I see no mention of this being
an "interest free loan" like it was in 2008. Is this really the case? If
so, what about the people that took advantage of this in 2008 - is that
"loan" agreement going to be done away with? Or, am I missing something
with the 2009 credit? TIA
N Owen
 
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A

Alan

In looking through forms for the 2009 NHBC, I see no mention of this being
an "interest free loan" like it was in 2008. Is this really the case? If
so, what about the people that took advantage of this in 2008 - is that
"loan" agreement going to be done away with? Or, am I missing something
with the 2009 credit? TIA
N Owen
You are not missing anything.
2008: Effectively, an interest free loan.
2009 & 2010: A tax credit.

As of this moment in time Congress has shown no sign of reversing
the 2008 terms and conditions.
 

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