Profile picture for aecred

I was wondering we recently lost our home we lived in for 10 years to forclosure.

I wondered if we would qualify for the $6500 dollar tax credit? Thanks!
  • February 19 2010 - Auburn
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Answers (6)

If you lived there 5 of the last 8 years and don't make over $75,000 as an individual then yes you would qualify.... if you can get a loan with the foreclosure so recent would be your big stumbling block.

In fairness though, I don't know your financial situation. For all anyone that answered this know, you lost it to foreclosure and came into money the very next day somehow.
  • February 22 2010
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Profile picture for aecred
I know the tax credit is for new home owner!! I'm not STUPID!!!!!!!!
  • February 20 2010
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Profile picture for aecred
We are trying to get a new house on land contract!
  • February 20 2010
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Profile picture for wetdawgs
If you lost a home to foreclosure recently, you would not qualify for a mortgage for several years.  You would meet the criteria of living in the home for 5 of the 8 years.
  • February 20 2010
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are you serious? geez
  • February 19 2010
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You are wondering whether you qualify for the tax credit because you lost your home? 

No. The tax credit is for folks buying a new home. 

And if you have lost a home to foreclosure it's unlikely you will be able to buy a new home for at least two years.
  • February 19 2010
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