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First Time Tax Credit - on Title, not mortgage

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minka Guest	Posted: Thu Sep 17, 2009 8:59 am    Post subject: First Time Tax Credit - on Title, not mortgage Like 0 Dislike 0 Would I qualify for the First time Home buyer tax credit with the following conditions: -Name on Title, not on mortgage -have never owned a home _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
JKennedySLG Community Expert Joined: 01 Apr 2009 Posts: 408 Location: New Jersey/New York 20.05 Dollars($)	Posted: Thu Sep 17, 2009 10:30 am    Post subject: Like 0 Dislike 0 No. Your name must be on the mortgage to qualify. I hope this helps... _________________ James Kennedy New York/New Jersey (732)979-7409 Hard Money & Stated Income Loans First Time Home Buyers (540+ Credit)
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12357 Location: bloomfield, ct 55.04 Dollars($)	Posted: Thu Sep 17, 2009 10:49 am    Post subject: Like 0 Dislike 0 i'm wondering about this, james. what if someone had sufficient assets to pay cash? that person who is a first-time homebuyer is still a first-time homebuyer regardless of the existence of a mortgage; isn't that right? i just visited the irs website and found no mention made of a mortgage requirement. do you know something i don't? i believe that minka, as an owner, would be eligible for the credit. but of course, that presupposes that the other party is also a first time buyer. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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