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Submitted By: Larrie
Answered: August 20, 2013 8:30 am
Answered: August 20, 2013 8:30 am
Is there a first-time homebuyer credit for someone who buys a house in 2013?
No. The first-time homebuyer credit ended in 2010 and it has not been extended. There’s probably no chance that Congress will change its mind anytime soon because the housing market has picked up.
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Tax Glossary
Nonrecourse financing
Debt on which a person is not personally liable. In case of nonpayment, the creditor must foreclose on property securing the debt. At-risk rules generally bar losses where there is nonrecourse financing, but an exception applies to certain nonrecourse financing for real estate.
