Will I be considered a first time home buyer?

Asked by Hollie S, Ohio Wed Feb 18, 2009

My mother passed away in November of 2008. She left me her house, and I recently had the title transferred into my name so I could put it on the market. I am also the executor of her will, and have not lived in the house since it has been mine.. my intention was always to sell the house. I don't think I could live there because of all the memories, and it's frankly too much house for me.

Meanwhile, I have been on a hunt of my own for a home, I am awaiting an acceptance on a short sale now. I was counting on the first time home buyer's credit (I'm 29 and this will be my first home) to help with growing pains, but then it occured to me - does the fact that my mother left me her home after death dis-qualify me from being a first time home buyer? Thanks a lot

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Dallas Texas, Agent, Dallas, TN
Wed Feb 18, 2009

Contact a mortgage broker more than likely yes you could purchase as a 1st time home buyer. The broker will require your financial 2 years statements, employment 2 years, credit scores, debt ratio.

You will receive annual tax benefits for any property you own including more than one

GREAT time purchase interest rates are low would require approx. 3.5 % as downpayment or more
Web Reference:  http://www.lynn911.com
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Hollie S, Home Buyer, Ohio
Wed Feb 18, 2009
Thanks to both, but I just want to know if this will disqualify me for first time home buyers credit.

Lynn - has anyone ever told you that you look like Liza Minelli?? I think it's uncanny =)
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Sj209, Both Buyer And Seller, California
Wed Feb 18, 2009
Yes, you are qualified but you have to act fast if you want the credit. Don't wait until December to make an offer because closing could take several months. Good luck.
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