Do Your Homework to Collect Housing Tax Credit - NBC 6 South Florida

Do Your Homework to Collect Housing Tax Credit

Obama tax credit plan doesn't come through for some South Florida home buyers

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    NEWSLETTERS

    Do Your Homework to Collect Housing Tax Credit
    Terry Savage takes a closer look

    Myra Camino and her husband saw their dream coming true. They bought a home in Broward home, enticed to purchase by the Obama 8 thousand dollar tax credit for first time home buyers.

     

    "Everyone told us we qualified. Realtors told us that we did," said Myra Camino. "We were actually trying to get the tax credit."

    But the Camino's had their wallet take a hit when they discovered recently they weren't going to get the tax credit, $8,000 gone.

    Two other families told NBC Miami they thought they were going to get the credit too, bought homes, but still don't have the $8,000.

    "We are a little discouraged because we were going to use the money to fix up the house," said Camino.

    "The purpose was to encourage people to go out there and buy new homes," said Josh Goldglantz, a tax attorney at the North Miami firm of Bart Chepenik, P.A.

    Goldglantz says the Caminos may not have been thorough enough.

    "Unfortunately, they had a little bit of misinformation," Goldglantz said. "And you really need to do your homework on this."

    He said those who went to by homes and pick up the $8,000 tax credit or a $6,500 credit given to buyers who had lived in their home for more five consecutive years need to check their eligibility and make sure they close on their new home by September 30th.

    "You really have to be aware of the dates and certain documents that are required to be filed and certain that are suggested," he said.

    "We thought we asked all the right questions and we talked to all the right people but we didn't read the fine print so make sure you follow thorough and know when the guidelines are," said Camino.

    Now if you applied for these credits and need more tips on how to actually get the funds go to www.chepenik-law.com.