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I am currently in a land contract (5 1/2 years) and am near the end of the term. I am on title but not the deed. Am I able to refinace this with a conventional mortgage and take cash out at closing. Or, because I am not on title would this be a purchase? then if it was the latter would I qualify for the $8,000.00 tax credit?

jenkin7 · Posted: Thu Sep 24, 2009 12:29 am Post subject:

Hi Bruce,

Your query has been discussed on the following page:
http://www.mortgagefit.com/refinance/landcontract-cashout.html#123233 .

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

If your name is not on any title in the last three years then you can get the tax credit. I would not say it will be $8000/-

It will be 10% of yoru purchase price or maximum up to $8000/-

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