Does owning a mobile home in a park make me ineligible for the first-t

[Guest lschoono]

Hi,

I'm interested in starting an Roth IRA and one of the things that I might like to do with it is to save for a house. As I was reading on the topic, I saw that for first time homebuyers you could use the money you contribute and earn without penalty for not only a traditional home, but also something like a houseboat, as long as that will be the principal residence. If this is so, does owning a non-traditional home now (mobile home in park) make me ineligible to use the first-time homebuyer option?

Thanks

Lisa

[John G]

I can't answer your specific question about current mobile home owners. But, I want to post a caution that most folks should not fall for gimick withdrawals of Roths, allowed by IRS code or not. Tax shelters are best used when you keep the money in them... preferably a very long time.