My name was added to the deed of my mothers house, but the loan is only in her name. Now that the house is
being sold and we intend to purchase another house, can I qualify for the first time buyers tax credit?
Answers (1)
FIRST ANSWER
'First-time homebuyer' is a term that is generally used for someone that is purchasing a house and has no mortgages on their credit report for the last 3 years. If you have owned a house in the past and decide to buy again, you can still be a 'first-time homebuyer.' For the tax credit program, the same 3 year stipulation applies, but if the home was not your primary, you should qualify.
Read FAQs on http://www.federalhousingtaxcredit.com/2009/faq.php#2.
Good Luck
Web Reference: http://www.federalhousingtaxcredit.com/2009/faq.php#2
Didn’t find what you were looking for? Ask a question!
Ask a question
Got a real estate question? Get answers from locals, experts and real estate pros.
Email me when…
|
|
|
|
|||||||||||
|
|
|
Copyright © 2009
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
Help us improve our service—send us feedback