If your primary residence is foreclosed on and it is in soley in your husband's name will you be able to purchase a home in the future on your own?
You will probably be on the foreclosure with him. It depends on the finace company or bank. Yes in about 2-3 years after you build your credit back up and can show that you pay your bills on time, you will be able to get another house. But the main thing is to pay your bills and rent on time. You might have a higher rate at first, but then after they see you are able to pay on time your rates will drop. Good Luck I went threw this about 2 years ago and I am going to buy my house back from the landlord this year. I am looking for a mortgage company right now. Good Luck on your new adventure.
What happens to my primary residence when I can't find a tenant for my rental property and it goes into forclosure?
In the Final Decree of Divorce the Court decided or yourself and your ex agreed who would have primary residence of the child. My advice is to read through your Decree to get answers concerning your child's primary residence. The primary residence will include the school the child will be attending.
Much of whether there is tax liability of a short sale depends on whether the home was a primary residence or not. In most circumstances you will not pay taxes on a short sale if it was your primary residence. This is because of a law that went into effect called the Mortgage Debt Relief Act. If the property was an investment and not a primary residence you may have to pay taxes.
Are there grants for regular repair and structural repairs on 106 year old house, to be used as primary residence?
Can you avoid capital gains taxes from the sale of a second home you did not live in and used the proceeds to buy a new primary residence?
I can't think of any. Understanding that it is the sale of a primary residence that gets a tax break...not the making of income to purchase one. Except for the special conditions under Sect 1031, what one does with the money after a recognition event normally can't effect the taxability of the event preceding it.
Does having primary residence with joint custody automatically mean the parent with primary residence has the final say?
Will buying a new house trigger repayment of the 8000 tax credit even if you keep the original house as your primary residence for 3 years?
As long as you keep the original house as your primary residence and remain in it "for the greater number of nights in a year" you will not have to repay. Caution: If your new purchase is in a different local and a W2 shows your employment being in that new local, odds are you will have to repay so don't try to hold onto the original house and just tell uncle sam it's your…
You have to be a first time home buyer with a closing date after April 8, 2008 and before December 01,2009. It has to be your primary residence. There are income phase outs and not everyone will qualify. You can file an amendment on you 2008 tax return or wait until you file you 2009 tax return to claim your credit. If owned a primary residence at any time during the three years before the…