Eligibility is based around income; if you earn more than 95,000 dollars or as a married couple more than 170,000 dollars then you are not qualified to enter into this tax credit system of property acquisition. The way towards New York foreclosure homes is a pathway enlightened by tax credit.
The benefits of getting a tax credit for buying a foreclosed property include a further savings on the purchase of a foreclosure and the opportunity of making a down payment with the amount received. To apply for tax credit foreclosures of the credit amount of up to $8000 you have to be a first time homebuyer with a single income of $75000 or a combined married income not exceeding $ 150,000.
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