homebuyer
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First Time Homebuyer on 2010 Taxes
Asked by K.G. from Pittsburgh
on February 22, 2011
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I claimed the First Time Homebuyer Tax Credit for my home that i bought in 2008. I understand that i am supposed to begin paying this back at $500/yr starting with my ...
Answers
- You need to get some solid answers from a true accountant who does this all year long.... DO NOT rely on the "accountant in a box" or someone who is open a few month...
- It has its own form that needs to be completed. I also had to start paying back this year, but I do not know which form it is because I used an online software comp...
- I know when we went to HR Block they did our taxes it was a seperate form to fill out but when it came down to it it automatically deducted from our refund. Might wan...
Frist Time Homebuyer Information
Asked by L.L. from Tulsa
on January 3, 2008
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ok, so here it is: My husband and I want to buy a house. I am so tired of renting anapartment. Here are my issues. I want to buy a house in the next 6 months. We don't...
Answers
- Hi, there are going to be grants coming out soon in about another month. These grants will help you put down a down payment or things such as this. Also, you can alway...
- Community Action project runs a program for down payment/closing cost assistance. They require that you take a few seminars in order to qualify for the funding, which...
- There are some organizations such as Clean Credit at 62nd and Memorial and for a fee they will go in and dispute any small blips that you might have on your credit bur...
Home Warranty Company
Asked by L.N. from Dallas
on November 19, 2006
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I was just wondering what home warranty company you all use and if you are happy with them. We currently have American Home Shield and they have raised our fee by 65 ...
Answers
- Have you ever had to use their services? Was it worthwhile? Here's my opinion based on my own experiences...save your money. They are not worth it. They don't cover...
- I also HAD American Home Shield and I would have to agree with the last post. COMPLETELY WORTHLESS! My AC went out this summer when it as well over 100 degrees every...
- Do NOT use Everything Residential. They are awful, too. We just bought a house and it has older double ovens. They don't work well, won't hold temp, burn the bottom...
First Time Home Buyer Credit and Filing Taxes
Asked by R.M. from Atlanta
on March 8, 2010
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My husband and I have been seperated for 2 years and have almost finalized the divorce. I just purchased a new home for which I was told I qualify for the first time ...
Answers
- In 2009, were you "legally" separated? You also say you were separated for 2 years, how did you file last year? I would think it would be the same this year. The re...
- I'm sorry that I can't be of more help, but my suggestion would be to find a decent CPA who could help you. The last thing you want to do is try and figure it out on y...
- I'm a public accountant, but without knowing all the details of your life, I can only give you the basics. The first time home buyer credit is for people who have ne...
Looking for Mortgage Thru Non-Traditional Means
Asked by C.F. from Dallas
on March 31, 2010
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My husband and I are in a lease to purchase contract on a home that we love. Scenario 1 is we have till Dec 1st of this year to purchase this property and get the bene...
Answers
- Private mortgages are basically unheard of these days. With that being said, you're better off trying to renegotiate your lease to try to stay in the property. A...
- I totally agree with Kim S. I've been in the mortgage business for 11 1/2 years and there isn't a mortgage company around today that is going to give you a loan if yo...
- I'm a single mom and I financed my first house recently through USDA, it was a lengthy process and I had to take home buyer education classes, but it was all worth it ...
Family of 4 Able to Live on 40K/year Salary
Asked by C.B. from Phoenix
on January 13, 2012
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We struggle to live off my DH salary which is twice as much as these families make a year. This article discusses 2 families that live off of 40k/year and still save f...
Answers
- I live in Atlanta, and I have NO desire to try and live on 40K a year -even by myself! We're fairly frugal. We save a lot, don't use credit cards, by used cars, use co...
- I didn't read all of it. But some of the stats are totally not in line with where Iive. We "joke" that it takes 3 public servants (police, teachers) to live in this co...
- My husband is in the Army and only makes just below 40k a year and we live comfortably. We have two boys ages 9 months and 1 1/2. We also have been putting away for r...
Mother Seeking down Payment Assistance for Mortgage Information
Asked by C.M. from Chicago
on October 24, 2006
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I am in the process of looking for a home and would like to know if anyone has any information for down payment assistance.
Answers
- Hi C., There are a lot of "creative financing" options available these days - you may be able to get by putting only 5% down. What you'd do is take out a mortgage fo...
- The City of Chicago has a couple of programs available for downpayment or closing cost assistance. Check their website. Also, check with your place of employment as s...
- Hi C., You have to look into the IHDA (Illinois Housing Development Authority) they have the BEST Interest Rates for first time home buyers. They are in the low ...
Single Mom Looking for Information on How to Be a 1St Time Home Buyer
Asked by C.F. from San Francisco
on February 13, 2009
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Hi Ladies,
I've been renting a townhouse for about a year and a half. I'm looking for information on how to go about buying a house. I know it's a buyers market rig...
Answers
- I recommend my friend Irene Jacobson. She's a realtor with Keller Williams, but more than that she's highly ethical and loves helping people. I know she would be hap...
- Hi C., My mother-in-law is in mortgage lending and loves working with first time home buyers. She has been instrumental in the development of many of the first time ...
- Good Morning, C. ~ Congratulations on your decision to buy your first home. I am a Realtor in Santa Clara County and would be happy to meet with you at your convenien...
Need a Real Estate Loan to Buy a House. HELP!
Asked by T.H. from Chicago
on September 12, 2007
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Hi, we are having trouble getting a real estate loan to buy a house. This is our first house and let me preface by saying that the reason we are having a problem getti...
Answers
- Hi T.~ If you'd like to give me some more information about your situation, I can see if I can help you! I'm a loan officer, and we actually use about 50 banks to hel...
- SEnd me a note with your contact, my hubby can help :-)
- I would check with someone else. My girlfriend has been in the Mortgage business for over 20 yrs, I would give her a call and see what she can do for you. We have gone...
Renting First Home & Purchasing 2Nd Home
Asked by L.A. from Phoenix
on June 1, 2011
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Hi Mamas!
Wondered if anyone has experience renting a current home and purchasing another? For very good reasons, we need to rent our current home and purchase ano...
Answers
- Another question to ask your lender/broker is whether you are eligible to refi your current home (and how that would affect your ability to qualify for a new loan). Th...
- we are renting out our house cause we wanted to move to a different area and are renting now.. i miss being in our own home!! we want to also purchase a 2nd home but t...
- I don't mean to be a Debbie Downer but it sounds like a recipe for disaster to me. If, even wth the rent, you have enough to cover bills and "not much more" what are ...
