Question: I was wondering what documentation you are suggesting your clients submit to claim the $6,500 home-buyer’s tax credit.
Answer: Here is what I would do for a client:
- Paper file return
- Properly complete Form 5405
- Copy of HUD Settlement Statement showing signature of buyer and seller
- Copy of mortgage statements from the last 5 years you lived in your previous home
If you follow this guideline and your claim is legitimate, you should not have a problem receiving your refund. Keep in min you will probably need to wait 6-8 weeks to get your refund, so please be patient. For more information, please visit
http://www.irs.gov/newsroom/article/0,,id=204671,00.html.
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We have all heard how popular FHA home loans are becoming from real estate agents, financial analysts, and the institution itself. The Home Buying Institute recently conducted a survey of over 12,000 of its readers. Of those who responded to the survey, 87% said that they were planning to utilize a FHA insured loan to finance their future home.The number one reason homebuyers are looking to FHA loans for financing is the low down payment that it requires.Learn more:
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