Displaced HomemakersAnd 40B Housing
40B Housing and Displaced Homemakers
Are you a displaced Homemaker? You may be eligible for a 40B home!
A displaced homemaker, specifically defined by the Massachusetts Department of Housing and Community Development is an adult who has not worked full time in regular employment the labor force for a full year or, for a number of years. As a homemaker, during that period of time, who has primarily worked, whether caring or home and family without payment (remuneration) and owned a home with their partner or lived in a home owned by their partner.
As an applicant, you must be a first-time homebuyer. A first-time home Buyer is either themselves or someone in their household who has not owned a home, an interest in a home (with one or several people) or, in joint ownership over the past three years.
If you’re a displaced homemaker and or someone in your household is over the age of 55, you don’t have to be a first-time homebuyer. However, but must sell the property you or, someone in your household owns in order to be eligible.
If you were married and owned a home within the last three years but are now divorced you can only be considered a first-time homebuyer if you are considered a displaced homemaker.
If you were a part of a household where you or another household member is 55 or older or one of the individuals in that household who did not own a home within the last three years you may be considered a first-time homebuyer as long as you meet the income and asset limits.
There’s more! Contact Delphic Associates today and let’s talk about it!
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