Anyone familiar with WHEDA/recapture?

[ButterflyJen]

Here's the situation:

DH and I sold our home a month ago. We financed it through the WHEDA (http://www.wheda.com) program when we bought it two years ago. If you sell your house within nine years of buying it, you may have to pay a recapture tax.

HOWEVER, looking on their website at this (http://www.wheda.com/cat_sfb/recap.asp) page, it sort of sounds like we may not have to pay that tax (we make significantly less than the recapture income limit, as I WAH part-time and DH does not have a high-paying job).

I'm just curious if anyone here has worked with this program, or something similar, and can share their experiences. We're wanting to pay down our CC debt before buying again, in about a year, but we don't want to get caught come tax time and not have the money to pay this recapture tax if we need to.

TIA for any advice/help you can give me!

(x-posted to All Things Money)

[flygirl]

Based on that webpage, as long as you're below the recapture limit, you won't have to pay it. And the graph shows that the average WHEDA customer is below that limit. From the website:
The majority of WHEDA's borrowers will not be subject to this tax.
I'd contact the organization just to be sure, butas long as you make less than - it looks like around $50k - you won't have to pay the tax.

[ButterflyJen]

Thanks flygirl - that's what we were thinking, but I want to be sure before I go all nuts paying off bills. :)