Posted on: 24th Feb, 2010 07:40 pm
I purchased a home in April 2009. I also sold a home in 2009 that I owned for 5-6 years. I do not qualify for the extended long term housing credit for purchasing a new home because I did not purchase after Nov 3. Am I crazy? Are there other people out there with the same situation. Does anyone know if there will be anything in the upcoming months that suggest there is relief for the people that "fell through the cracks".
Welcome susannrtn,
Are you speaking about first time homebuyer's tax credit? As far as I know, to qualify for the tax credit, the home purchase must occur on or after January 1, 2009 and on or before April 30, 2010. I guess you won't qualify for the tax credit because, you won't be considered as a first time buyer as you already owned a property prior to the new purchase.
Are you speaking about first time homebuyer's tax credit? As far as I know, to qualify for the tax credit, the home purchase must occur on or after January 1, 2009 and on or before April 30, 2010. I guess you won't qualify for the tax credit because, you won't be considered as a first time buyer as you already owned a property prior to the new purchase.
I'm planning to shortsale my primary residence baecause I can't afford the monthly mortgage.Now, I need to move to a different state in California to start a new life. Rental houses there are much lower than my monthly mortgage now.Can I still be qualified to rent a house before this coming school year. My daughter has to start her high school and I need to move before the next school year. I have a bad credit from my past credit card mistakes. I'm slowly paying them through a debt consolidation payments.Please let me know if I can still get out from this situation and re-build my credit now that I need to shortsale my house again. Thank you.
I am exhausted for paying my mortgage on my primary residence for 4 yrs. Within this 4 yrs. I have undergone home counsellings, payment adjustments, and finally Motgage Modification Loan which only lowers my monthly for aound 200 dollars.Now, starting Feb. 2010, I payed almost the same price like the amount prior to mod.loan. They said, it was due to increase of taxes and escrow payment. Due to my hardship financially, my four-year struggles to save my house has come to an end and would like to move out to another state.Please let me know if I would benefirt from a shortsale or Deed in Lieu.My property is for sure lower value than the amount I owed. Please help me.
Jing - I would apply to rent IMMEDIATELY so you know what you're up against. The apartment office will tell you if you qualify or not and what you can do to help your situation
