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1st time homebuyer tax credit on home refinance

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Icon Mini Profile shaunasmd03





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Post Posted: Wed Nov 11, 2009 3:03 pm    Post subject: 1st time homebuyer tax credit on home refinance
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My boyfriend has owned his house for 6 years. We just had the house refinanced to receive a lower interest rate so that we can pay it off sooner. I have never purchased a house. I was added and am now co-owner.

My question is: Since I have never purchased a home before, am I eligible to receive the tax credit of $8,000 for being a first time homebuyer?

Thanks.
Icon Mini Profile gmakerley
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Post Posted: Wed Nov 11, 2009 3:04 pm    Post subject:
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you didn't buy this house, did you?
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Icon Mini Profile gmakerley
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Post Posted: Wed Nov 11, 2009 3:06 pm    Post subject:
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i guess it's called "gimme $8K just for the hell of it."
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Icon Mini Profile smckaybiz
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Post Posted: Wed Nov 11, 2009 8:17 pm    Post subject:
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But heck George, if illegal immigrants, children under 18, and government workers are getting $8K checks, why shouldn't she, right??? Wink
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Icon Mini Profile gmakerley
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Post Posted: Fri Nov 13, 2009 11:16 am    Post subject:
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scott, where in the world did you get that? children under 18? they can't even borrow money legally...illegal immigrants? who's going to review their paperwork...oh i mean - NON-paperwork?

as for government workers...if a government worker buys a home and is a first-time homebuyer, then that person qualifies for the credit. is that wrong?

we give things to white people too. i don't get your argument, scott.

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Icon Mini Profile jveenstra
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Post Posted: Fri Nov 13, 2009 11:29 am    Post subject: Tax Credit
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George, Scott got that info from the fraud that is going on. Some under 18 filed for and got the credit. Some got caught.
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Post Posted: Fri Nov 13, 2009 11:46 am    Post subject: response
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that was a legit question...

The answer is no
Icon Mini Profile gmakerley
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Post Posted: Fri Nov 13, 2009 11:52 am    Post subject:
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thanks, john...from the tenor of the comment, it would seem that there is a large portion of our populace who believes that 18 year olds are routinely obtaining $8000 from the government. no mention was made, of course, that this was a fraudulently obtained credit.

but then i guess everything these days is a grand conspiracy, eh?

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Post Posted: Sat Nov 14, 2009 7:31 pm    Post subject:
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I was just being a little goofy George. Very Happy Here is one of the many stories floating around the web if you search hard enough. "http://www.abcnews.go.com/WN/Politics/time-homebuyer-tax-credit-progr am-subjected-fraud/story?id=8890655"

[Link deactivated as per forum rules. Thanks.]

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Icon Mini Profile gmakerley
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Post Posted: Sun Nov 15, 2009 9:15 pm    Post subject:
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i thought you'd had a personality transplant or something, scott. your posts in the past seemed reasonable, and here all of a sudden you're talking about aliens and ufos and ...oops...that must have been another poster.

oh yeah...illegal immigrants and government workers (one and the same?).

i'm glad to know you're back to normal.

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Vi

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Post Posted: Thu Dec 17, 2009 1:59 am    Post subject: In Another Context
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If you are a homeowner who purchased in 2008 and refinanced in 2009, do you qualify for the credit? I know that earlier in the year there was talk about a refinancing tax credit and then pooof it was gone.
Icon Mini Profile gmakerley
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Post Posted: Thu Dec 17, 2009 11:24 am    Post subject:
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vi, did you not claim the credit as a first time homebuyer in 2008? it's not too late if you didn't because you can file an amended return and take care of it at any time, really.

as for refinances, a "homebuyer" credit would seem to me to be a contradiction in terms if offered to someone refinancing...do you agree? there is no such thing as a refinancing credit, so you can eliminate that from your thoughts, now. sorry.

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Post Posted: Sat Jan 16, 2010 12:22 pm    Post subject: Do I qualify ??
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We had a house built in 2004. Had it re-financed to get rid of the interest only loan in 2009. Do we qualify for anything ?? Also, the loan is not in my name but I am on the deed to the land and I myself have never purchased a home. Thanks
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Post Posted: Mon Jan 18, 2010 2:50 am    Post subject:
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Though you refinanced the loan in 2009, you won't qualify for the first time homebuyer's tax credit. It is only for those who did not own a home for the last 3 years and are purchasing their principle residence now.
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Icon Mini Profile gmakerley
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Post Posted: Mon Jan 18, 2010 9:27 pm    Post subject:
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that's right, sandi - you have been a homeowner for 5 years plus; there is no way you can qualify to be a first time homebuyer. it's really pretty simple.
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