Senior Contributor
Wonderin
Posts: 3,494
Registered: ‎05-25-2008
Re: Thinking about buying

I don't know if I'm tiptoeing too close to the unethical edge, here, but technically, if YOU buy the house (without Mrs. Ilecs), you CAN claim the credit.

This is EXACTLY what the IRS says:

Q. Who cannot take the credit?

A. If any of the following describe you, you cannot take the credit, even if you buy a main home:
* You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.

 

No mention of in-laws in there. Like I said, though, that might be pushing it. :/

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Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!