More answers to new-buyer-credit questions
Will those who qualify receive a check after they've filed their taxes?
This is the best kind of credit: a "refundable" one.
First, the credit will reduce your bottom line tax bill. If the credit is larger than your tax bill - or you don't owe any taxes - you will get any excess credit in the form of a refund.
She also answers questions about whether you can claim both the $7,500 and $8,000 credit (no), whether you can use the credit if you're buying into a retirement community and what "first-time homebuyer" actually means. (Not "never bought before," as it happens.)