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Updated about 14 years ago on . Most recent reply

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Christy Jeffers
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8k First Time Home Buyer Credit Repayment?

Christy Jeffers
Posted

I'm hoping someone here will be able to guide me...

I purchased my first home in Feb. 2009 and received the $8,000 first time home buyer credit with the stipulation I would keep the home as my primary residence for 3 years.

My issue is, I recently became engaged to an Airman stationed in another state. His enlistment is up Feb. 2013 and we plan to return to the area, so I would like to keep the house, and am planning to rent it out to my roommate and another person. Since the mortgage and all utilities are already in my name, I plan to keep it that way, have the renters pay me their monthly payments, and I will in turn pay what is due.

I have been told by my buyer's agent who helped me purchase the house that because I am not the one in the military, I would not be able to get around repaying all $8,000. I am curious if this is true, or if there is a way around NOT repaying the credit, since I am keeping the home and plan on returning AND I am moving due to military....

any ideas?

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