Has anyone heard of this?
I have not heard of this. I have heard of buying a house with tax liens. Tax credits are discounts that you can take off of your income tax bill unless they are used in some other context that I am not aware of.
Hi @Aaron Klatt that’s what I was also thinking but I met a woman who says she’s done it several times. The house has to have a mortgage though. I guess the amount of the credits is enough to cover it. It sounds a bit complicated but intriguing
@Don Cuffy What kind of tax credits are you talking about?
@Don Cuffy Maybe she means local programs that help low and middle income people buy homes or something similar.
@Don Cuffy Probably referring to the Mortgage Credit Certificate program aka MCC. It's a federal tax credit. Here's a link to the CalFHA website that explains more.
@Rob Moran I don't think that's it because I'm in VA
@Michael Biggs I have no idea that's why I'm asking has anyone else heard of it. It's legit though because she has closed on houses. From what I understand it's all about the codes.
@Aaron Klatt I don't think that's it either because it seems like any house with a mortgage qualifies for it
@Don Cuffy it's a federal program. Here's a link to VA's version. https://www.vhda.com/BusinessPartners/Lenders/Page...
Join the Largest Real Estate Investing Community
Basic membership is free, forever.