PETITION - 7500.00 TAX CREDIT- NOT TO BE REPAID TO IRS

10,864 Letters Sent So Far

If you were a first time homebuyer and bought a house between April 2008 and December 31, 2008, you were entitled to receive a $7,500 tax credit that MUST BE REPAID over a period of 15 years.

If you were a first time homebuyer bought a house on January 1, 2009 through Dec. 31, 2009 you were eligible for an $8,000 tax credit that DOES NOT HAVE TO BE REPAID.

This is NOT FAIR. We need to get congress to eliminate the requirement that the 2008 tax credit must be repaid.

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Going through a foreclosure and had to move, now I'm faced with paying off the $5000 balance.
Most people that purchased homes in 2008 have taken quite a loss due to the market. This leaves us with much less equity than people that purchased later. Combine that with the repayment or the tax credit we are being left high and dry. I ask that the 2008 Tax credit be changed to a non-rpayed credit and not a loan.
I bought my home in mid November & was going to wait till 2009 to close, but I was told that it would be included in the 2009. Who lied to me. Now that I am retired this has turned into a real hardship.