Posted on: 10th Sep, 2009 10:30 am
My girlfriend purchased a home but does not qualify for the first time home buyers credit due to income limits, however, I do. I live at the property and pay part of the morgage, but am not listed on the morgage or title. Is there a way to get my name on the title/deed and qualify for the first time home buyers credit?
no, quite simply...you have not purchased this home, and acting as a "straw" person in order to obtain this credit would not be considered as a very favorable act by the irs, i am afraid.
you can ask you girlfrind to do a quit claim deed to add your name to the deed. but that does not aulify you for $8000 tax credit
if you are paying for the mortgage then tis a good idea to add your name to the loan, which can help you to get some tax deduction
if you are paying for the mortgage then tis a good idea to add your name to the loan, which can help you to get some tax deduction
Second point suggested bye Sunnyca will help.
You have to add your name to loan then only you can get benefit of tax.
You have to add your name to loan then only you can get benefit of tax.
In what proportion can you expect tax deduction or tax benefit?
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Laguna Beach Homes and Newport Beach Homes, all the luxury you expect
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Laguna Beach Homes and Newport Beach Homes, all the luxury you expect
the home has already been purchased, so our original poster is not going to be able to do anything to avail himself of the credit.
George half of them even do not pay attention to the original post
Are you surprised
Are you surprised
i'm not in the least bit surprised. but that's endemic of our society these days.
I owned a mobile home but not the land. I bought a new home with land
this year 2009. The lender said that since I owned a title and not deed
I was eligible for the credit. Is this correct?
this year 2009. The lender said that since I owned a title and not deed
I was eligible for the credit. Is this correct?
check this out, carolyn; i just answered your question earlier today:
http://www.mortgagefit.com/predeal/about28409.html
http://www.mortgagefit.com/predeal/about28409.html