I keep running into people who don’t know about or haven’t heard about the first time home buyer credit. The credit is for first time home buyers (anyone who hasn’t owned in the last 3 years) and is a tax credit of $8,000 dollars that you no longer have to pay back. This means if you purchase a new home this year the US government will cut you a check for $8,000 dollars + whatever your refund would have been or if you were going to have to pay in you would reduce your tax liability by $8,000 dollars. Good example of this would be if you were going to owe $3,000 you would now get a check for $5,000 or if you own $12,000 now you would only owe $4,000 dollars. If you were going to recieve $3,000 you will now recieve $11,000 back on your taxes. Not a bad deal. If you any further questions please let me know.