Join Early Retirement Today
Thread Tools Search this Thread Display Modes
first time home owner
Old 10-22-2007, 01:08 PM   #1
Confused about dryer sheets
Join Date: Oct 2007
Posts: 5
first time home owner

Ive owned a home in the past,and id like to know how long it would take for me to be considered a first time home buyer again,or is that even possible??

Alexg is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-22-2007, 01:15 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
Join Date: Mar 2003
Posts: 16,869
For what purpose?

"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."

- Will Rogers
brewer12345 is offline   Reply With Quote
Old 10-22-2007, 01:16 PM   #3
gone traveling
Join Date: May 2006
Posts: 1,036
If you're trying to qualify for some kind of 1st time buyer financing program they usually are upfront with the qualifications. From what I've seen they require no home ownership in the last 5 years. If not, how would anyone know after say 7 years when mortgages would drop off credit reports and tax records would not be expected beyond that time?
honobob is offline   Reply With Quote
Old 10-22-2007, 01:19 PM   #4
Moderator Emeritus
W2R's Avatar
Join Date: Jan 2007
Location: New Orleans
Posts: 42,790
I don't know about the legalities of it. But, when it comes to the subjective aspects, I would imagine that you are a virgin home-buyer! So be sure to get a good realtor to help you along the way, and then trust yourself more than your realtor or anybody.
I have drunken deep of joy,
And I will taste no other wine tonight.

― Percy Bysshe Shelley
W2R is online now   Reply With Quote
Old 10-22-2007, 01:22 PM   #5
gone traveling
Join Date: May 2006
Posts: 1,036
Originally Posted by brewer12345 View Post
For what purpose?
To feel "shiny and new"?
honobob is offline   Reply With Quote
Old 10-22-2007, 01:42 PM   #6
Thinks s/he gets paid by the post
maddythebeagle's Avatar
Join Date: Jun 2005
Posts: 2,450
Die and be reincarnated.... Seriously, you think that these special loan programs wouldnt have records of people that have used them in the past....
maddythebeagle is offline   Reply With Quote
Old 10-26-2007, 06:57 PM   #7
Dryer sheet aficionado
Join Date: Oct 2007
Posts: 35
Most of the programs that I have read about state that you must not have owned a home in the past two years. Of course those were for programs in California and also for a VA loan.
I love mankind; it's the people I can't stand. - Linus Van Pelt
MissParker is offline   Reply With Quote
Old 10-27-2007, 11:33 PM   #8
Full time employment: Posting here.
GoodSense's Avatar
Join Date: Jul 2007
Posts: 678
Ditto the last poster. To qualify for first-time homebuyer programs again it's usually 2 years with no ownership interest in any property. (If it's a divorce situation it's more complicated) You should check with the specific program though. It might vary depending on who is underwriting it.
GoodSense is offline   Reply With Quote
Old 10-29-2007, 08:48 PM   #9
Thinks s/he gets paid by the post
Join Date: Aug 2004
Location: Laurel, MD
Posts: 4,537
You need to check with the particular program you are interested in to see what thier rules are....if administered by the state, for example it could be 1st time homeowner in that particular state. Property records are public, so it would be easy to audit.
jazz4cash is offline   Reply With Quote
Old 10-30-2007, 09:41 PM   #10
Recycles dryer sheets
Join Date: Oct 2007
Posts: 82
For Roth IRAs I believe it is also two years.

HornedToad10 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Owner-Built home ScooterGuy Other topics 10 09-29-2007 03:29 AM
Home prices go negative for first time in 11 years Texas Proud Other topics 8 03-28-2007 06:49 PM
As a business owner, how do I file my 1099's for my contractors? thefed Other topics 5 01-23-2007 03:13 PM
Absentee house owner? CaptCurmudgeon Life after FIRE 9 11-13-2006 09:34 PM
Part time work at home? dbolda1 Hi, I am... 7 10-25-2003 02:49 PM

» Quick Links

All times are GMT -6. The time now is 06:57 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.