Comments on: First-Time Home Buyer Tax Credit – All the answers you need

By: John

John — Wed, 07 Jul 2010 05:28:18 +0000

I was denied the claim and when I called in it was because we owned a time share. The rep on the phone said we can appeal it and should have no problem. Has anyone heard anything about this ?

By: Jim Renshaw

Jim Renshaw — Wed, 30 Jun 2010 13:16:32 +0000

Ryan,
Thanks for the good information. This is something that all real estate professionals should be informed about. Thanks.

By: Ryan

Ryan — Wed, 30 Jun 2010 12:16:49 +0000

Just be aware that most buyers are being denied on First Home Buyer by the IRS. The IRS states that if you claimed mortgage interest during the 3 tax years, you do not qualify. In other words, even though there was a three year span between closing dates, that you did not technically own property, if you owned property in that three tax years, you will be denied.

By: Gavin

Gavin — Tue, 12 Jan 2010 18:36:33 +0000

Jim, thank you as always for the great information.