Yes, it is possible. They do not have anything to do with each other. One is a credit because you bought a home in the correct time period and the $14,000 is bacuase you bought a foreclosure meeting certain guidelines. In addition, I believe you are buying in Georgia and we have another $1800 tax credit from the state. If your income qualifies and you are buying a foreclosure that meets the $14,000 restrictions, you could get all three and have bought a lesser priced home because it was a foreclosure. WOW!! What a deal.
Sally W. Hamby
Pine State Mortgage