Posted on: 19th Jul, 2010 06:26 am
Hi,
I have never bought a home. However, my husband has bought several properties and has added me to deed. I am not on any the loans. I want to puchase a home under the first time homeowner program and would like to remove my names from the deeds in order to qualify. Many mortgage companies have told me that since my name is on the deeds I would not qualify for FHA so I think the best way to qualify is to remove my name from the deeds.Is this possible? Someone please help thanks.
I have never bought a home. However, my husband has bought several properties and has added me to deed. I am not on any the loans. I want to puchase a home under the first time homeowner program and would like to remove my names from the deeds in order to qualify. Many mortgage companies have told me that since my name is on the deeds I would not qualify for FHA so I think the best way to qualify is to remove my name from the deeds.Is this possible? Someone please help thanks.
As your name is on the property deeds, you won't be considered as a first time home buyer. In order to qualify for a first time home buyer, you should not have owned a property in the last 3 years. You can remove your name from your husband's property and qualify for a normal mortgage but you won't get the tax credit.