Is anyone here a mortgage broker?

[Kroze]

In the future, I want to sell my house & buy another one. I know I don't qualify for a first time homeowner rebate ($8k) but what If I have my wife sign the paperwork for the new house?

She would definitely qualify as a first time home buyer right? The thing is that she doesn't have credit/money/job and I would have to be a "co-signer".

Are we going to be able to take advantage of the 1st time home buyer rebate?

 

[BoberFett]

Every state is different, but as far as I'm aware all states recognize spouses as having statutory interest. I wish it weren't so, because then I could qualify for the $8K for the house we just bought, since my wife owned the last one and my name was not on the title.

 

[OCGuy]

This is more of a tax question than a mortgage question.

 

[KK]

Ask Alky, he's done it all.

 

[MiniDoom]

I think you're sol dude. i read before on the .gov faq site that you or your spouse could have never owned a house before to qualify for the credit. you could always divorce her, then she may be able to buy the house and get the credit.

 

[spidey07]

Originally posted by: rdubbz420
I think you're sol dude. i read before on the .gov faq site that you or your spouse could have never owned a house before to qualify for the credit. you could always divorce her, then she may be able to buy the house and get the credit.

Almost correct - haven't owned for at least 3 years. Not never.

Op could probably get the divorce, have her buy the house and then remarry.

 

[rudder]

I stayed at a holiday inn express last night.

 

[waffleironhead]

1. divorce
2. wife buys house as first time homebuyer
3. remarry
4. ???????
5. profit

 

[FelixDeCat]

Here's a crazy idea, call the bank or mortgage company you intend to apply at. Then you will know for sure. And avoid brokers, they are the used car salesmen of mortgages.

 

[Brutus04]

If you were married when you bought you are...sol. Why don't you just get a Real Estate license and sell & buy for yourself. I'm sure there is some dumbass lawyer out there that will make a case for you.