2007 Home buyers credit (the one you have to pay back) (attorney, loan)

[dmarie123]

I bought a home in 2007, and took the tax credit. It was $7,500 and you have to pay it back. You pay it back $500 a year, from your tax refund, or all at once if you sell the house and make money. I'm getting ready to sell. I heard a rumor that they are not making people pay it back this year, cuz of the economy, yadda yadda yadda. If I sell this year, do I have to pay it back?

I tried searching google for credibile information.... anyone know?

[2bindenver]

Credible info comes from the IRS or a specialized tax person; attorney, CPA, Enrolled Agent.

[FalconheadWest]

I have not heard of anything saying the people who have the payback loan don't have to pay it back this year. Our government needs money and they need it fast. They're going to take it from everyone who owes it.