THDA Tax Penalty?

If you or someone you know had a THDA loan (for first time home buyers), there may be an assumption that the home cannot be sold for 9 years.  Or if it is sold, many think there is a big penalty. These misconceptions come from the signing of a form that explains the recapture tax.  Since the bonds that fund these loans are tax free, the government decided to put this tax in place.  In reality, very few people are affected by it.  It is based on selling the home for a handsome profit and having a large increase in income.  In fact if this happened to you, it would probably be the best thing that could happen.

If you want to talk more or find out what we can do for you, please contact me at 615-777-4663 or via email at george.margrave@migonline.com I would love to chat with you and see what it is that I can offer you.  Thanks for your time!