Posted on: 31st Mar, 2009 09:51 am
my name was added to my uncle's house where i don't live for home equity loan few yrs ago. currently, the loan is paid off, but my name is still in the house title. i am going to buy a home for my principle residence. do i qualify for the $8000 first time home buyer tax credit?
No.
According to tax form 5405, it is not my main home, b/c i don't live on it.
should not be qualified to be a first time home buyer?
should not be qualified to be a first time home buyer?
No.
I am sorry about the answer not being better news.
I am sorry about the answer not being better news.
Hi stevenycc,
As you are listed on the title, you are a owner of the property and one who already owns a property cannot qualify as a first time home buyer.
As you are listed on the title, you are a owner of the property and one who already owns a property cannot qualify as a first time home buyer.
Ofcourse yes. most probably the bank might ask your uncle to be a co-borrower.
inanity abounds again.
I think chtnggd is either heavily medicated or has secretly accessed a computer at the asylum.
apparently not heavily enough medicated.