Question:

Regarding the 8k Tax Credit…What if you have a couple and one has ever owned a home. Qualify?

I have a friend who is engaged.  Her fiance owns but she never has. They want to buy a home together this year. Would she/they qualify for the 8k tax credit?  Would she need to qualify on her own merit?  Could she get the loan with him and then be the one that gets the deduction?   Thanks!!!

What if both are on the loan but only one is in title?

Answer:

It may have to do with how your ‘buyer’ files her tax returns.  If she files single and holds title as Joint Tenants, there may be a case for her receiving a partial payment of the credit.  This is really a question best asked of the IRS