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My name was added to my uncle's house where I don't live for home equity loan few yrs ago. Currently, the loan is paid off, but my name is still in the house title. I am going to buy a home for my principle residence. Do I qualify for the $8000 first time home buyer tax credit?

greg1 · Posted: Tue Mar 31, 2009 10:11 am Post subject:

Guest

According to tax form 5405, it is not my main home, b/c i don't live on it.
should not be qualified to be a first time home buyer?

greg1 · Posted: Tue Mar 31, 2009 12:07 pm Post subject:

No.

I am sorry about the answer not being better news.

jenkin7 · Posted: Tue Mar 31, 2009 10:37 pm Post subject:

Hi stevenycc,

As you are listed on the title, you are a owner of the property and one who already owns a property cannot qualify as a first time home buyer.

chtnggd · Joined: 25 Mar 2009 Posts: 16 5.17 Dollars($)

Ofcourse yes. most probably the bank might ask your uncle to be a co-borrower.

gmakerley · Posted: Thu Apr 02, 2009 9:48 am Post subject:

inanity abounds again.

eric1 · Posted: Thu Apr 02, 2009 5:35 pm Post subject:

I think chtnggd is either heavily medicated or has secretly accessed a computer at the asylum.

gmakerley · Posted: Fri Apr 03, 2009 11:11 am Post subject:

apparently not heavily enough medicated.

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do I qualify to be a first time home buyer?