first time home buyer – owner loan

August 8, 2009

Military first time home buyer credit?

Filed under: Renting & Real Estate — Tags: , , , , , — admin @ 9:30 pm
John asked:


I was in the military and stationed in North Carolina. In February of 2005 my wife and I purchased a home there. In August of 2007 I was honorably discharged and moved to Illinois (where we are from) and rented an apartment. We rented the home in NC for about a year while trying to sell it. In September of 2008 it finally sold. We just purchased our new home in Illinois in October. Are there any tax credits available to us? We never received any first time home buyer credits.

Lisa

July 21, 2009

How would the first time home buyer program work if I am?

Filed under: Renting & Real Estate — Tags: , , , , , , , , , , , , , , — admin @ 8:41 pm
Miss L asked:


…If I am living in one state and plan on purchasing in another. (I live in Florida and I would like to purchase-soon- in North Carolina but I will not be relocating this year so Im still a Fla resident).

Can someone explain the specifics of the first time home buyer program as it relates to a resident in one state purchasing in another? Thanks.
It is an investment property in an area that I know has done well. It’s in a quiet area in driving distance of a business park, mall and university. I didn’t buy the first phase but I would like to buy into the second phase of brand new townhomes. I already know 3 people who built and had renters within the first 2 mos. so Im not worried about the location.

Also, I have been with my job for 2 1/2 years and I have a good financial situation. I’ve never owned a home so I was wondering would this program apply to me (given the fact that I want to buy out of state).

Mario

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