I wish you luck in finding what you need. Please remember it will be in your best interest to consult with an attorney when negotiating the contract. Land contract transactions are very detailed and the actual transaction can last for years.
In most cases a land contract purchase will still require a significant down payment and will have credit requirements.... more
FNMA (Fannie Mae) buys conventional loans from almost all lenders. There are special programs for first-time buyers and those wanting to owner-occupy FNMA foreclosures. All require a steady employment history and good credit. Stop in to State Bank of Cross Plains and talk to a loan officer or contact HeatherM@FairwayMC.com at Fairway Mortgage. Once pre-approved, I'll be glad to help you get the home you want for a price you can afford.... more
Deb, I am originally from Illinois myself and I know exactly what you are talking about. In Illinois the counties give exemptions off of your Real Estate taxes if you are living in your home and are 65 and older (it is called the Homestead Exemption). There is another one also in Illinois but I am not familiar.
So far this is what I see in Wisconsin, There are a variety of qualifications for a Wisconsin Homestead Credit. Those who qualify must be 18 years old as of December 31 of applicable year, lived in Wisconsin for the entire year (January 1 to December 31), claim independent on taxes and make under $24,500 (as of 2009).
So the difference is that if you live in Illinois, it goes by age, in Wisconsin for the most part it goes by income. I do also believe the state of WI allows for a credit no matter if you own or rent.
Read more: Wisconsin Homestead Act | eHow.com http://www.ehow.com/facts_6374137_wisconsin-homestead-act.html#ixzz1l6x9EEUK You can go to ehow and look up Illinois Homestead information also.... more