The first time home buyers are limited in price, so I am not sure if that house would qualify?
And, you still need to have enough income to buy the house.
He bought the house in 2008 which would make him around 12.
Where she lived when he was in 5 th grade is confusing. Maybe she rented.
This is not about me as I have been married a jillion years and my kids married to great people as well. So, please do not think I am personalizing it.
For my teaching career, I worked in schools and situations where the people were in poverty.
I am sick about hearing about single mothers. They cannot get abortions and they cannot get assistance or welfare. So what is it they are supposed to do? Marry rich and have sone guy support them?
I heard the stories of the guys who worked under the table so they did not have to pay support. I heard the stories of how the guys were going to take the children away.
It doesn't matter if I thought their threats were ridiculous, the mothers believed it and were afraid.
As far as we know, GG had 4 years to establish a relationship. We don't know what effort was put into it,
We don't know why the mother chose not to go for support when TH was younger.
We do not know if GG was on any IRS forms.
We just don't know.
In the home buyer program we went through, they would be a family of two. To even qualify for the program, she would have need to make LESS then 30,000 a year. You can have a very small salary, and still qualify for a loan in the same program. At the time, as a family of 3, we made less then that...and still qualified. The only limit on the amount of loan you could get, was the limit the lender set. Because the income qualifications must be so low, by default, people aren't going to be qualifying for $250,000 houses. However, the program itself, has NO home price limits.
It seems like her house is in the $130,000-$150000 range now. In 2008-2009 (I know, because that's the year we purchased our home) it was a buyers market. Great homes were going for very little, and interest rates were at historic lows. (We secured a less then 4% interest rate. Out mortgage payment was and still is...less then renting a one bedroom apartment.) Even thought my husband's income was not even middle class, we still qualified for a loan to cover a house in the same price range. The home buyers program paid the down payment and closing costs. We had to pay less then $2,000 to actually get into the home. The trade off, is you must live in the home a certain amount of time. If you do not, they prorate the loan amount and you must pay it back.
So, long story short...yes, you need income. However, you are required to have very little, to qualify for the program. As I said, there was no limit on the cost of the house. Her house would have qualified, if she qualified. (I'm not saying she used that program, we don't know.)
