Up to $25,000 for Indiana homebuyers who purchase a foreclosed property.  If you live in Vanderburgh County and make $43,000 or less, this money could be yours.  This is federal dollars handed down to the state from President Obama's Housing and Recovery Act.

Indiana is getting a little help when it comes to reversing the damage done by foreclosure. The State was given $33-million to help rebuild some neighborhoods.

The State has decided to give it out in the form of interest-free loans to Hoosiers who decide to purchase a foreclosed home.

There are a couple of stipulations the IHCDA has put in place. The  loan must not exceed 20% of the home's purchase price.  The property must be your primary residence.  If you stay in your home for at least 10 years this will become a grant and you do not have to pay this loan back.  You are also required to take an 8 hour homebuyer education class. 

The offer is good until the money runs out.  For more information on buying foreclosed homes and this incentive call John Horton at 812-568-3306.  To see all homes for sale in Newburgh and Evansville Indiana click here.