I purchased a home in 2008 and I filed for the President Bush's interest free loan pay back program. I have to pay this loan back for the next 15 years. Why in 2009 and forward, the law was change so that people do not have to take out a loan but they obtained free monies for their home purchases. This law This is under IRS form 5045 -
The original first-time homebuyer tax credit provided buyers with a tax credit of up to $7,500. The tax break subsequently was expanded, with a new credit limit of $8,000 for first-time homebuyers and $6,500 for homeowners seeking to move into another residence.In 2009, there is no loan program, the monies were given without a payback system. The law should be rebuked and refunded. Sincerely, Mark Peters
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