Check with your realtor it might be that this is a bank approved short sale. Realtors put short sales on the market lower priced than comparables. Than the offer goes to the bank and gets rejected. The bank will than in some cases approve the short sale at a certain price.... more
take a look at this new listing close to steal mill wonderful priced and already to move into and i am sure bank owned so bank refi http://www.realtor.com/realestateandhomes-detail/4882-State-Road-1_Butler_IN_46721_M43741-27494... more
Teresa.. to qualify for the $7500 tax credit you could not have owned another home for 3 years prior to the closing date of your new home... and you would need to meet the income requirements for the credit ($75,000 MAGI for singles, $150,000 for married couples). The tax credit is equal to 10% of the purchase price up to $7,500, so if you bought a home for say $50,000 your credit would only be $5,000. A possible problem may exist if your co-borrower parent's name was put on the deed along with the mortgage papers... and has owned another home in the last 3 years. If that is the case then you may want to check with a CPA or the IRS to see if you still qualify. Or you can contact me by phone or email if you have any more questions.