Question: Divorce, refinancing house, possible tax credit?

(Posted by: nicholaskopka on 2010-02-28 09:49:40)

Recently got a divorce, going to try and refinance my home myself. Not sure if I would be able to take advantage of any of the tax credits out there. This is my first house, and not sure if this would qualify as a second since it is the same house.

Posted by: reenzz on 2010-02-28, 09:57:31

Since you already own a home, you would not qualify for any tax credits.

Posted by: Deevil on 2010-02-28, 09:54:49

Ezinearticles.com (Mortgage after Divorce) Hope this can help answer some of your questions.

Posted by: MadMan on 2010-02-28, 10:10:01

Obviously, you cannot get the new home buyer's credit. You also cannot get the move up credit because you are not buying a new house. Re-financing does not count.

Posted by: real estate guy on 2010-02-28, 10:39:51

NO!!! 100% sure. You already own a home. The credit is the purchase of a home. Either a first time buyer (which you are not) ($8,000) or the $6,500 credit. However, you have to purchase a NEW HOUSE, not refinance.