Profile picture for jonny o

My wife owns a 1971 mobile home that is now unliveable I am Disabled.We now rent $850 monthly do we

Why are trailors keeping us from getting a home for us and our 2 kids.  Is there any way we can get the $8000 credit.  The house we signed for is coming apart over the fact she owned a trailor.  
  • October 26 2009 - Easley
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (8)

Best Answer

Was the trailer your primary residence any time on the last three years?

If so, this would disqualify you and your wife from the credit because the IRS views trailers as a home. If you have owned the trailer but have rented elsewhere for the three years prior to closing on the new home, you would qualify for the credit.

The IRS considers trailers to be homes for tax purposes, excepting trailers that are RV's (have motor). 
  • October 26 2009
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Do you know mortgage Co. that might lower their lending standerds.
 
lots of them; that's why none of them are still in business.

silliness aside; why 10% down; why not go FHA on whatever you're buying?
  • November 01 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for jonny o
we have been renting from 9-08.  So what are the chances of the new $6500 tax credit?  we are $4000.00 away from the 10% down payment. and i have been disabled since 2005.  we paid off my wife's car about a year ago and we don't want to sell it to carmax or someone else, she needs it to get to work.any new information would help.  we are supposed to close by 11-13-09 and we spent our savings paying for my daughter to go to Clemson without having to take out any loans for her first year. We have excellent credit but my wife is self-employed. 
  • November 01 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

if either spouse has owned a primary residence, neither can claim the credit is my understanding...

seems like two issues here:
1. the credit,
2. you might not qualify for a loan anyways?
  • November 01 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

sounds like the trailer is in just your wife's, name, do you qualify on your own for the new home? that may solve the issue if you do...check with a tax professional if you need more info.
  • November 01 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for jonny o
the trailor was a means to keep my kids away from public housing.  It has been filled with mold and made both my kids sick so we had to look elsewhere to live.  What do you think of them making the tax credit availble to anyone who would reside in their home?  Sen Dodd is talking but until it gets the Presidents signature its just talk.  Do you know mortgage Co. that might lower their lending standerds.
  • October 26 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for droopyd
Even if you owned another property, but it was not your primary residence at any time in the past 3 years, you will still be considered a "first-time homebuyer."
  • October 26 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The $8000 tax credit is available for closings through 11/30/09 and are eligible to first time home buyers.  If you have not owned a home/land/trailer, etc in 3 or more years, you are considered a first time homebuyer. 
  • October 26 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.