Angie asks: If my name was never on a mortgage, but was on the deed, am I able to claim the $8,000 tax credit on a house I purchased myself? I am currently getting divorced and my name was only on the deed and I am in process of buying my own home. [...]

David asks: I am 22 and just graduated from college. I was thinking about purchasing a foreclosed home for around $8-10k and using the $8,000 first-time home credit to essentially get the house for free. Will this work? I have no job at this time but I have perfect credit. I have about $3k in extra cash. I was thinking about buying a house in Detroit or Florida. [...]

Michele asks: I am currently renting. Should I purchase a home even if I do not have a five to ten percent down payment? I know that now is the time to buy. I can afford the mortgage payment and I have already been pre-approved. [...]