My Landlord made me what seems to be the deal of a lifetime. They are willing to let me assume the mortgage on their house without having to pay them for the equity gained through their payments, which I am estimating is 5-10yrs of payments. I have been doing my research and I am aware I would have to assume the loan at their current interest rate, but two questions come to mind…If I assume the loan would I qualify for the first time home owners tax credit? and How soon can I refinance the assumed loan to a lower interest rate if at all?
Posts Tagged ‘tax credit’
If I assume a mortgage will I still qualify for the 1st time home buyers credit?
Sunday, February 7th, 2010Equity in Home Throught the Fha Loan?
Monday, November 2nd, 2009if i buy a house for ,000 throught the fha loan and the house is worth 5,000 will there be Equity in the House
How do we refinance our HELOC without refinancing our 1st mortage?
Thursday, October 22nd, 2009We owe on our 1st mortgage is ,000 at 6.25%, and our HELOC is 5,000 at 8.19%. Fixed. The estimated value of the house is between 0,000. to 0,000. I would like to combine and lower my interest rate, but if that is not possible, how can I lower my HELOC. I would at least like to lower my 0.00 interest on the HELOC. What are my options if any? Thanks!
Can a divorcee decree be proof that someone is no longer liable for a home loan?
Tuesday, October 20th, 2009My husband and I are divorcing he does not want the house instead he wants to sell the house to get his name off the loan. I do not want to sell the house. its only 1yr old with little equity. I used my VA loan to purchase the house, we just refinanced 3mths ago, and I received the tax credit which forces me to remain in the house for 3yrs. VA also requires it be another veteran buyer for the sell of the house. It would be a hardship to uproot our 13mths old son and find a place to live. I offered him to quitclaim it and give me 24mths to refinance. Is this something a judge may agree on? Are there any other options for me to keep the house.
Can a divorce decree prove someone is no longer liable for a home loan?
Tuesday, October 20th, 2009My husband and I are divorcing he does not want the house instead he wants to sell the house to get his name off the loan. I do not want to sell the house. its only 1yr old with little equity. I used my VA loan to purchase the house, we just refinanced 3mths ago, and I received the tax credit which forces me to remain in the house for 3yrs. VA also requires it be another veteran buyer for the sell of the house. It would be a hardship to uproot our 13mths old son and find a place to live. I offered him to quitclaim it and give me 24mths to refinance. Is this something a judge may agree on? Are there any other options for me to keep the house.
How much negative equity can you roll into a new car lease?
Tuesday, August 25th, 2009I have a car that I’m financing and it’s falling apart. I have about 00 to 00 in negative equity with my trade and I’m thinking about a lease option with Honda.
Does anyone know how much negative equity can be rolled into a lease with Honda and what the credit requirements are for Honda leases?
Can I use an equity loan as first mortgage?
Monday, August 10th, 2009I’m looking at being able to put a cash payment for 75% of a house. I really don’t want to go through all the expenses of a mortgage when I probably will be paying it off in 3 months. I was wondering if I could do a home equity loan on the property from the git go and avoid all the mortgage costs. Is this allowed? Any other suggestions?
Will a home equity loan qualify us for the 1st time buyer tax credit?
Thursday, July 23rd, 2009We were put on the deed of a home while we were "renting to own" (1 yr) then all of a sudden the landlord wanted the rest of the cash. So we got out a home equity loan with the house to pay him what we owed him. Would this qualify us for the First-Time Buyer Tax Credit?
question about home values/apprasials, what legal rights do i have?
Wednesday, July 15th, 2009I have a question a year and a half ago we took out a 70k home equity line of credit out and they appraised the home at 220k."i never had a company to look at it or pay a fee" Now i went to my lender to refinance our 1st ARM mortage that is for 135k. They sent out an appraiser i pd for 300 bucks. and they appraised it for 185k. The loan officer told me i am now 20k backward on my loan. i asked him why did it change 1.5 years ago, he just said things change. and told me they cannot do anything.
i did research on this pissed off that i am, checked back to properties that sold at that time was 182k. I live in a townhome community, all units are pretty much identical. So who can i hold accountable for this, i have a copy of the report that showed my value at 220k. Someone told me that used a computer to figure it out, is there anything that is illegal here?
Related ‘tax credit’ sites :
| Federal Housing Tax Credit: Home Learn more about the Federal Housing Tax Credits for home buyers. www.federalhousingtaxcredit.com | |
| Tax credit - Wikipedia, the free encyclopedia Within the Australian, Canadian, United Kingdom, and United States tax systems, a tax credit is a recognition of partial payment already made towards taxes due. ... en.wikipedia.org/wiki/ | |
| Internal Revenue Service (IRS) Official site. Includes tax statistics, IRS information, and links to Federal tax forms. ... Larger families now qualify for a bigger Earned Income Tax Credit. ... www.irs.gov | |
| Federal Tax Credits for Energy Efficiency : ENERGY STAR Below you will find an overview of the federal tax credits for energy efficiency. Please note, not all ENERGY STAR qualified products qualify for a tax credit. ... www.energystar.gov/index.cfm? | |
| HM Revenue & Customs: Tax credits Making it easier to find out if tax credits can help you and your family ... What changes you need to let the Tax Credit Office about, how to contact them ... www.hmrc.gov.uk/taxcredits | |
| Tax Credit to Aid First-Time Homebuyers; Must Be Repaid Over ... Tax Credit to Aid First-Time Homebuyers; Must Be Repaid Over 15 Years ... Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar. ... www.irs.gov/newsroom/article/ | |
| Miscellaneous Tax Credits If you are filing an individual income tax return and you are claiming a tax credit, you must use Form MO-1040, Individual Income Tax Return. ... dor.mo.gov/tax/taxcredit | |
| Tax credit: Definition from Answers.com Tax Credit A dollar-for-dollar reduction in the tax payment required from a person. Investopedia Says : Deductions and exemptions only reduce the www.answers.com/topic/ | |
| Tankless Tax Credit - Rinnai Some of the more significant changes include the extension of the tax credit through 2010 and the increase in the total available tax credit from 10% to 30 ... www.rinnai.us/ | |
| New Energy Tax Credit for Hybrids Hybrids purchased or placed into service after December 31, 2005 may be eligible for a federal income tax credit of up to $3,400. www.fueleconomy.gov/Feg/ | |