Looks like you have answers to your question. However, I think I should point out that if a person is buying a home solely for a tax credit, you might want to consult your tax advisor. They may be able to help you find other ways to shelter your income.
The 91506 zip code in Burbank has homes that would definitely qualify. One of the answers below talks about the 800k limit. But there is also a lower limit too.
Please let me know if I can help. I am very familiar with the Magnolia Park area.
303 N. Glenoaks Blvd. Ste. L-110
Burbank, CA 91502
323-821-2292 or email@example.com... more
In order to qualify for the loan modification the person on the loan needs to sign the modification documents. If both of you are on the loan then you both need to sign. You might have to see an attorney on this because of the impending divorce.