Can I still get the 1st time home buyer credit if I purchased a house with a loan from my father-in-law?

Answers:0   |   LastUpdateAt:2012-10-16 18:55:44  

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Hayley
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My wife and I bought a house in July 2009 . We took a loan from my father - in - law to finance the home . He did not own the house , we bought except traditionally presented at the closing with a check for the full amount of my FIL and we have a loan agreement and payment schedule with him . He hired a lawyer and the whole thing was created legally . The house is in our name , my FIL just had money saved and wanted to give us a good loan rate and making him a better return on your money that would otherwise sit there . Are we still eligible for the credit ?
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