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10-22-2007, 12:08 PM
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#1
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Confused about dryer sheets
Join Date: Oct 2007
Posts: 5
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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??
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10-22-2007, 12:15 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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For what purpose?
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"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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10-22-2007, 12:16 PM
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#3
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gone traveling
Join Date: May 2006
Posts: 1,036
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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?
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10-22-2007, 12:19 PM
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#4
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,468
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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.
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Happily retired since 2009, at age 61. Best years of my life by far!
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10-22-2007, 12:22 PM
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#5
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gone traveling
Join Date: May 2006
Posts: 1,036
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Quote:
Originally Posted by brewer12345
For what purpose?
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To feel "shiny and new"?
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10-22-2007, 12:42 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,450
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Die and be reincarnated.... Seriously, you think that these special loan programs wouldnt have records of people that have used them in the past....
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10-26-2007, 05:57 PM
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#7
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Dryer sheet aficionado
Join Date: Oct 2007
Posts: 35
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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
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10-27-2007, 10:33 PM
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#8
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Full time employment: Posting here.
Join Date: Jul 2007
Posts: 678
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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.
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10-29-2007, 07:48 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,304
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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.
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10-30-2007, 08:41 PM
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#10
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Recycles dryer sheets
Join Date: Oct 2007
Posts: 82
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For Roth IRAs I believe it is also two years.
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