first time home buyer – owner loan

July 31, 2011

Q&A: First time home owner. How do I control mold in an old basement?

Filed under: First Time Home Owner — Tags: , , , , , , — admin @ 9:37 am


Question by Carly829: First time home owner. How do I control mold in an old basement?
It’s not horrific yet, but there are certain areas on the walls that the mold is growing, and I want to keep my family safe. Any suggestions?

Best answer:

Answer by kmar61
Dehumidifer and scrub the walls with a clorox water base solution, have plenty of ventilation gotta get dampness out of there



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July 29, 2011

Q&A: First Time home owner tax deduction?

Filed under: First Time Home Owner — Tags: , , , , — admin @ 10:39 pm


Question by Alexa’s Mommy: First Time home owner tax deduction?
I am trying to do my taxes on turbo tax and I am not getting any more money for this year even with me had purchased a home in April and putting interest, points, taxes and PMI. Anyone know why?

Best answer:

Answer by Peilthetraveler
I think its because homeowners dont get the EIC if i remember right.



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July 28, 2011

My dad is an investor who has put a house in my name, can i clam this on the first time home owner tax return?

Filed under: First Time Home Owner — Tags: , , , , , , , , , — admin @ 11:38 am
first time home owner
by National Library of Scotland


Question by David Tindell: My dad is an investor who has put a house in my name, can i clam this on the first time home owner tax return?
If I can clam this as a first time home owner and get the tax return how long would the house have to stay in my name before it would be ok to clear or put back in his name?

Best answer:

Answer by laffitupfzbl
Ergh – call an accountant, or a tax lawyer, or both. That sounds like a whole barrel of fish that could start seriously stinking if you tried to figure it out yourself. Better yet, have your Dad pay for the accountant since it’s his investment. Yahoo answers is probably not the best place to get the answer to a question of this proportion.



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July 24, 2011

can I become a first time home owner?

Filed under: First Time Home Owner — Tags: , , , , — admin @ 2:38 am
first time home owner
by National Library of Scotland


Question by anansttasiaaa: can I become a first time home owner?
I am a homemaker who does only pro bono work, so no income. My husband has a good income so we are fine and I have credit score of 770. tin I get a lend to buy my first home should I be able to pay 10-12% down payment of the 700K value property?My husband makes 160,000 a year

Best answer:

Answer by Simpson G
If you and your husband make about $ 233,000 a year combined, both of you will be applying, and you don’t have excessive outstanding debt, you should be able to get a loan. You will have to pay PMI as you are not putting down 20% and you will most likely be in a Jumbo loan situation on top of that. The best rates are given to people with a score of 770 and up, so you are golden there.



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July 22, 2011

are there first time home buyer programs for buyers that have to do stated income?

Filed under: First Time Home Buyer — Tags: , , , , , , , , — admin @ 3:38 pm


Question by jjohnson5677: are there first time home buyer programs for buyers that have to do stated income?
My wife and I live in California and have to do a stated income loan because we both work for tips for a living. We both have credit scores above 750. Our loan commanded said that first time home buyer programs are only for buyers that go full doc. Does anybody know of whatsoever local or federal government grants or buyer programs for stated income first time home buyers?

Best answer:

Answer by Mary B
Your loan officer is correct. I have never seen a bona-fide first-time buyer program that was anything but full doc.You DO NOT have to claim stated income b/c you work for tips…tin you not count your money at the end of your shift???? Is there some reason that you have no idea of what you have in your pocket?By the IRS guidelines, you are saying to be reporting 100% of your earnings to pay the appropriate taxes…what you are doing is nothing short of tax evasion and I am pitying to say, federal and state housing programs don’t support that.Now you know the drawbacks of cheating Uncle Sam.I’ll wager if you save up some of that tax-unloosen income you earn, while the rest of us that are honest tax payers pay taxes on ALL of our income, you will probaby discover you don’t need downpayment assistance programs.



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July 21, 2011

How do I get a scholarship for the first time a homeowner?

Filed under: First Time Home Owner — Tags: , , , — admin @ 4:37 am

question of Lasalle W : How do I get a scholarship for the first time home owner As a black female with a great job and three chidren and am wondering about a grant for a house Best Answer.

response from the responses
You can look at current exchange rates and other useful information to http://bankrate.com

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