Sentences with phrase «months as your primary residence»

Its pretty simple you must retain your home for 36 months as your primary residence.

Not exact matches

David Paterson spent only 55 days in the house during his first nine months on the job, while Eliot Spitzer preferred his Fifth Avenue apartment or his farm in Columbia County and George Pataki's own Putnam County mansion served as his primary residence.

g) Properties acquired by inheritances within the past 12 months are eligible for a cash - out refinance transaction provided they have been occupying the property as their primary residence since the inheritance.

However, if I refinanced my current primary residence as an Investment property, could I be approved for another primary residence through FHA and avoid the distance rule... assuming I have 6 months reserves and income to cover both PITI?

To use home - sharing income on a refinance application, borrowers will need to have at least a 12 - month history of documented earnings and the property must serve as their primary residence.

Stops occupying the home as their primary residence or leaves the home for more than 12 consecutive months.

You are considered to have permanently left the home if you do not live in it as your primary residence for more than 12 consecutive months.

When you sell the property or no longer occupy your home as your primary residence for a period of 12 months or longer, or fail to maintain the property taxes and homeowners insurance.

Example: You moved to a long term care facility and don't occupy the property as your primary residence for 12 consecutive months.

This is a common thing people do but paperwork probably states you intend to occupy current residence as primary for X amount of months.

As an investor you must prove that you have 6 months of reserve payments for both your primary residence AND your investment property.

Selling someone on a straw bale house, earth ship or solar passive home can be difficult, but if they could rent one and live in it for a few months they may understand the benefits as well as the life style changes required and be more open to having such a home as their primary residence.

53 By contrast, although the aim of Directive 2004/38 is to facilitate and strengthen the exercise of the primary and individual right — conferred directly on all Union citizens by the Treaty — to move and reside freely within the territory of the Member States (see Case C ‑ 127 / 08 Metock and Others [2008] ECR I ‑ 6241, paragraphs 82 and 59; Case C ‑ 162 / 09 Lassal [2010] ECR I ‑ 9217, paragraph 30; and Case C ‑ 434 / 09 McCarthy [2011] ECR I ‑ 3375, paragraph 28), it is also intended, as is apparent from Article 1 (a) thereof, to set out the conditions governing the exercise of that right (see, to that effect, McCarthy, paragraph 33, and Joined Cases C ‑ 424 / 10 and C ‑ 425 / 10 Ziolkowski and Szeja [2011] ECR I ‑ 14035, paragraphs 36 and 40), which include, where residence is desired for a period of longer than three months, the condition laid down in Article 7 (1)(b) of the directive that Union citizens who do not or no longer have worker status must have sufficient resources.

When you sell the property or no longer occupy your home as your primary residence for a period of 12 months or longer, or fail to maintain the property taxes and homeowners insurance.

If I refinance the two - unit mortgage in the next month or so should I just go straight to an investment property loan or should I keep it as a primary residence loan?

Respondents captured were either current homeowners (individuals who currently own a home as a primary residence) or prospective homeowners (individuals who do not currently own a home and are likely to buy a home as their primary residence in the next six months).

@Account Closed IRC sec 121 states that as long as you use the property as your primary residence for an aggregate period of 24 months in the past 5 years, you qualify for the capital gains exclusion.

Once you have lived in and used it as your primary residence for at least 24 months you can sell the property and qualify for the 121 tax - free exclusion.

Section 121 of the Internal Revenue Code («121 exclusion») provides that property held and used by you as your primary residence for at least 24 months out of the last 60 months can be sold and you can exclude from your taxable income up to $ 250,000.00 in capital gains if you are single (per homeowner / person) and up to $ 500,000.00 in capital gains for a married couple filing a joint income tax return.

The only requirement with this strategy is that you move into the investment property (i.e. convert it from investment property into your primary residence) and live in and use it as your primary residence for at least 24 months.

The Taxpayer is required to have (1) owned and (2) lived in the real property as his or her primary residence for at least a combined total of 24 months out of the last 60 months (two out of the last five years).

You are considered to have permanently left the home if you do not live in it as your primary residence for more than 12 consecutive months.

The borrower (s) moves out of the home for 6 months or greater and / or no longer lives there as their primary residence.

Stops occupying the home as their primary residence or leaves the home for more than 12 consecutive months.

In the longer term, I plan to rent out my current residence in Valpo once I don't need it as a primary residence, but that will be another 18 months or so.