New Fannie Mae Changes

Another government change is on the horizon that will have even more of an impact on the already distressed housing market.

First Time Home Buyer Tax Credit

Now that it is time to pay taxes for 2010, those people who took the First Time Home Buyer Tax Credit in 2008 need to start paying it back on this year’s tax return. Those that purchased in 2009 and 2010 and took the Tax Credit do not need to pay it back.