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First Time Homebuyer Credit RECALL!!

It was 2009, you just bought your first home.  You were on cloud 9!  You got your cake and ate it too because you took advantage of the First Time Homebuyer Credit.  Now, fast forward to 2012.  Your house is worth half of what you paid for it, your spouse lost his or her job and you’re struggling to put food on the table.  You’re unable to make your mortgage payment and in your best long term interest, you choose to Short Sale your home.  In steps me.   I list your home, find you a buyer and successfully negotiate an approved short sale.  Then, the bomb is dropped…  You took advantage of the First Time Homebuyer Credit and just now thought to tell me.  Unfortunately, this CANNOT be mitigated.  You need to know this whether you’re going through a foreclosure, short sale or traditional resale.  Read the rest of this entry