Repayment of 1st time home buyers credit

[AnotherBK]

We got the $7500 "credit" in Feb. 2009 (had 2 loans to buy the house so used the money to pay off small mortgage loan and a car,) then had to turn around a few months later due to a sudden job lose and file BK. We were discharged Dec. 2009. We have to start paying back the $7500 this year ($500 per year for 15 years). I have searched EVERYWHERE trying to find out if we will have to pay it back in full all at once now since we dont live in it or own it anymore, but can only find info about forclosures and stuff. Does anyone here have any idea if i will have to pay it back all at once now, or where can i find the info? The irs.gov site just had me lost.
Thanks

[AnotherBK]

Geez im freakin out here. I no there are certain situations where you dont have to pay it back, like if you sold the home and took a loss, Why is there no where to find out what happens when you file BK?

[Pandora]

The answer is right on the IRS website:

For 2009 Home Purchases

The American Recovery and Reinvestment Act of 2009 expanded the first-time homebuyer credit by increasing the credit amount to $8,000 for purchases made in 2009 before Dec. 1. However, the new Worker, Homeownership and Business Assistance Act of 2009 has extended the deadline. Now, taxpayers who have a binding contract to purchase a home before May 1, 2010, are eligible for the credit. Buyers must close on the home before July 1, 2010. [Added Nov. 12, 2009]

For home purchased in 2009, the credit does not have to be paid back unless the home ceases to be the taxpayer's main residence within a three-year period following the purchase.

First-time homebuyers who purchased a home in 2009 can claim the credit on either a 2008 tax return, due April 15, 2009, or a 2009 tax return, due April 15, 2010. The credit may not be claimed before the closing date. News release 2009-27 has more information on these options.

AND:

Repaying the Credit

Q. When must I pay back the credit for the home I purchased in 2009?

A. Generally, there is no requirement to pay back the credit for a principal residence purchased in 2009 or early 2010. The obligation to repay the credit arises only if the home ceases to be your principal residence within 36 months from the date of purchase. The full amount of the credit received becomes due on the return for the year the home ceased being your principal residence.

Q. If I claim the first-time homebuyer credit for a purchase in 2009 or early 2010 and stop using the property as my principal residence before the 36 month period expires after I purchase, how is the credit repaid and how long would I have to repay it?

A. If, within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit. Repayment of the full amount of the credit is due at the time the income tax return for the year the home ceased to be your principal residence is due. The full amount of the credit is reflected as additional tax on that year's tax return. Form 5405 and its instructions will be revised for tax year 2009 to include information about repayment of the credit.

http://www.irs.gov/newsroom/article/0,,id=206293,00.html

So - if you declare BK before the 3 years is up and let the house go or it goes into foreclosure - you will still be obligated to repay the "credit" - according to IRS.gov