The Federal Tax Credits Blog

Archive for the ‘First Time Homebuyer Tax Credit’ Category

Question: is 115,000 to much intrest to pay for a 80,000 home loan?

as a first time home buyer with limited credit score 633, 575,and 572 these are my credit scores i’m looking at paying almost 200,000 for a 80,000 home any advice please help

Answer: It’s called a sub-prime loan, and I’ll tell you right now, your about to buy a home you probably can’t afford, I suggest you improve you credit score and then look into a mortgage a few years down the road.

Sometimes you just have to tell yourself, No.

Patong tuk-tuk drivers get driving lessons

Preechavude Keesin, president of the PTF and son of Patong Mayor Pian Keesin, oversaw the training, which consisted of sessions on driving and traffic law, along with physical check-ups and background…

Question: $8000 first-time home buyer credit, purchasing home from uncle?

I know you do not qualify for the tax credit purchasing home from parent, grandparent, sibling…but I cannot find anything regarding aunts or uncles anywhere.

According to IRS, “Members of a family, including only brothers, sisters, half-brothers, half-sisters, spouse, ancestors (parents, grandparents, etc.), and lineal descendants (children, grandchildren, etc.).”

Would I qualify???

Answer: Your uncle is only “family” if described as such by the IRS. Read the full terms on the IRS web-page. If family is really only described as above, then I think you are in the right… but I am not a tax expert.

Leesburg Candidates: On The Issues

Leesburg voters will go to the polls May 4 elect a mayor and fill three seat on the Town Council. Incumbent Mayor Kristen Umstattd is being challenged by Councilman Tom Dunn. Five residents are running for the three council seats.

If it feels like your tax refund’s poky, you’re not alone

At a time when many people need their refunds to pay the bills, some taxpayers’ federal tax refunds have been delayed. Here are some reasons.

Forensic Loan Audit

Question: Would still qualify for First Time Home Buyer Credit if on title but not on the loan?

Let’s say my brother bought a house but we did not co sign because I owe too much debt and made too little last year so I am not on the loan, but I am on title. Would I still be able to qualify for the credit? He actually qualifies too but he doesn’t want to claim it because he wants to buy his own house later.

Thanks!

Answer: Since you are on the title, that counts as home ownership.

Where does your brother live? If it’s with you, he won’t qualify on buying another home.

Federal tax credit running out for Franklin County home shoppers

Time is running out for the first-time and repeat home buyer tax credits. The $8,000 first-time credit and $6,500 repeat home buyer credits are set to expire April 30, but those hoping to take advantage of the credit who sign a contract by April 30 are still eligible if the sale closes by June 30.

Latinos growing as first-time home buyers.: An article from: Fairfield County Business Journal $5.95 This digital document is an article from Fairfield County Business Journal, published by Thomson Gale on January 16, 2006. The length of the article is 1194 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation Detail…

Makers & Breakers: A Simple Guide to a Successful Mortgage Loan $14.95 Several years ago, I realized that there were many people who were interested in purchasing a home but had no idea where to begin. I spent countless hours and many evenings away from home helping these individuals understand the home buying process and its intricacies. There are not classes taught in high school or college that teach people the facts or procedures of arguably the biggest financial…