48128 : Questions & Answers

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Maureen Fran…, Real Estate Pro in Birmingham, MI
Maureen Francis & Dmitry Koublitsky answered:
We are current on our house pymnt but 40k underwater. If we stop paying now how long would we be able to stay in the house?
Banks vary on when they will foreclose after payments are missed. 3 months is not uncommon though. Then after that there is a 6 month redemption period, assuming you don't live o ... more
1 vote Share Flag Sun Apr 3, 2011 Foreclosure in 48128
Andy Hargrea…, Real Estate Pro in Plymouth, MI
Andy Hargreaves answered:
Would I qualify for the $8k FirstTime HomeBuyer Tax Credit if my fiancee cosigns and already owns a house?
No, you will not qualify if he's on the deal as well. See below. The home would need to be in your name only.

As Modified in the American Recover ... more
0 votes Share Flag Wed Feb 25, 2009 Home Buying in 48128
smith3gary, Real Estate Pro in White Lake, MI
smith3gary answered:
I did most everything right. 30 year fixed with a great interest rate and bought a house I can afford.

From your question, I gather that you were not able to rent out the home for "fair market value" (without a loss). I'm not a tax professional but suggest contacting your CPA ... more
0 votes Share Flag Wed Jul 2, 2008 Home Selling in 48128
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