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Do I qualify as a First Time Homebuyer if my name is on deed only and I Refinance this month?

Posted on: 22nd Feb, 2009 03:27 pm
do i qualify as a first time homebuyer if my name is on deed only and i refinance this month?...if my name is listed on the deed but not on the mortgage would i qualify as a first time homebuyer for the $8,000 stimulus credit if i refinance this month and put both the mortgatge and the deed in just my name due to a divorce. i have never bought a home before this is the first one ever.
I am married and my husband is a co signer on a mortgage with his mother. If I am buying a house now and have never purchased in the past and will be the only person on the mortagage not my husband. Will I qualify for the first time home buyers stimulus money.
Posted on: 26th Oct, 2009 09:09 am
you sure ought to be able to do so, thome. check with the irs or your tax advisor for the latest updates, though.
Posted on: 26th Oct, 2009 06:17 pm
I got a home in 2002 would I qualify for any credit
Posted on: 29th Oct, 2009 09:31 am
presumably, guest, you remain in that home at this time, 7 years later...right?

assuming that i'm correct in that thought, you're not eligible for any first-time homebuyer credit. they didn't exist in 2002.
Posted on: 30th Oct, 2009 11:40 am
I bought a house for my sister and she let it forclose in 2006. I have never lived in the house. We live in Japan, my husband is military and we are buying a house November2009. Will we qualify for the tax credit
Posted on: 07th Nov, 2009 07:52 am
it would seem so, home buyer, assuming that you're coming back to the us to make that purchase. since you did not reside in that home you purchased for your sister, it wouldn't have inhibited you anyway.
Posted on: 10th Nov, 2009 10:01 am
My Husband cosigned on a house with his parents back in 2001. In 2005 he stopped using the house as a primary resident and he has rented since. I finally got his parents to take his name off the house this past summer by doing an assumption of the loan. I on the other hand have never owned a house. This year we have bought a new house. Will we still qualify for the tax credit because we h used the house for a primary resident even though his name was listed as a cosigner?
Posted on: 13th Nov, 2009 03:17 pm
he'd seem to meet the requirement that you cannot reside in a primary residence for the last 3 years. i suggest you contact the irs - go to their website, where you will find FAQ, which may be helpful here. also, you can call them - see the website for the number.
Posted on: 15th Nov, 2009 07:30 pm
My domestic partner and I purchased a house in August 09. He obtained financing for the loan. I paid the down payment and pay half the mortgage. He does not qualify for first time home buyer...but I have never owned a home. Can I take the credit even though I am not on the loan or deed?
Posted on: 03rd Dec, 2009 09:14 am
if you are not on the deed, you are saying that you're not an owner. how, then, is it that you think you might be eligible for the first time homebuyer credit? you must be a purchaser of a home, and the mere fact of occupying and making payments on someone else's mortgage is not adequate to qualify you as a first time homebuyer.
Posted on: 03rd Dec, 2009 08:40 pm
I was divorced Dec 2008 purchased a home in Feb 2009. My name was on the deed which I did a quick claim deed but not on the mortgage. Do I qualify for first time home buyers tax credit?
Posted on: 27th Dec, 2009 06:05 pm
Hi vickyd,

First time homebuyer's tax credit is available to those who haven't owned any principle residence in the last 3 years. I don't think you satisfy this requirement as you owned a property earlier. So, you won't be able to qualify for the first time homebuyer's tax credit.

Thanks
Posted on: 27th Dec, 2009 09:55 pm
vicky, for the best information possible on your situation, you should speak with a tax advisor or contact the irs directly (irs.gov) and ask that question.
Posted on: 28th Dec, 2009 01:58 pm
My husband (unmarried at the time) bought a house 6 years ago. After we got married we refinanced and my name was put on the documents. If I buy a home now, would I be a first time buyer (excluding my husband)?
Posted on: 15th Jan, 2010 03:38 pm
Hi nadzter,

Is your name mentioned on the property deed of the present property? If yes, then you won't qualify for the first time home buyer's tax credit.

Thanks
Posted on: 15th Jan, 2010 11:47 pm
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