For nearly two years, home sales sky-rocketed despite the economy... Thanks to the first time home buyer tax credit. But depending on when you signed the dotted line, you might have to pay all of that money back. If you you bought your home between April and December in 2008 and took advantage of the tax credit, there were some extra stipluations. There were two tax credits during 2008 and 2009. One in 2008 for 75-hundred dollars. And another in 2009 for eight thousand. The one you have to pay back is from 2008, and its 500 dollars per year over the next 15 years. The money will come out of your tax return. Accountants say if you bought your home in 2009 on that 8000 tax credit, your wallet can stay closed.