I filed a quit claim deed when i got divorced in 02, do i qualify as a first time home buyer now?
thomas j asked:
Ex wife was foreclosed on last year, my name was still on the mortgage so the foreclosure is on my credit report. My new wife and I are closing on a home next week and are hoping to take advantage of the 8,000 tax credit for first time home buyers. Does the quit claim deed and time elapsed since then make me eligible?
Eugene
Ex wife was foreclosed on last year, my name was still on the mortgage so the foreclosure is on my credit report. My new wife and I are closing on a home next week and are hoping to take advantage of the 8,000 tax credit for first time home buyers. Does the quit claim deed and time elapsed since then make me eligible?
Eugene
October 11th, 2009 at 4:07 am
Sean
You are not a first time home buyer. You bought your first house with your first wife.
October 11th, 2009 at 10:29 pm
Georgia
No, because you are not a first-time buyer. Plus you are possibly still on the mortgage even if you don’t own the place.
October 12th, 2009 at 8:37 pm
Ryan
Do you not understand the meaning of ‘first’?
October 15th, 2009 at 11:35 pm
Ricky
Actually if you had made her refi to get you off the mortgage when you divorced in 2002, you would qualify as a FTHB. Not sure how you are closing next week with a year old foreclosure on your credit report. What rate are you getting?
October 18th, 2009 at 9:26 am
Bernard
Yes, YOU qualify as a first time homebuyer. The rules state that you may not have owned a home within the three years prior to the proposed purchase in 2009. You ceased being a homeowner when you signed the quit claim deed, regardless of your involvement with the mortgage situation. Of course, the same requirements apply to your new wife.