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4-yr-old got $8,000 homebuyer credit!

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posted on Oct, 24 2009 @ 07:00 AM
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Due to a loophole and some odd reporting criteria, children as young as 4 received the first-time homebuyer credit that Congress passed last year, according to PoliticsDaily.com. The credit is worth $8,000 and was created to encourage first-time buyers to purchase a home.

More than 500 people have used their children to sign up, with one parent using a 4-year-old to get the credit, the site reported.

These types of claims are among the myriad cases of fraud that have cost the government nearly half a billion dollars, federal investigators told Congress.

Please visit the link provided for the complete story.


Source

Where do you start on a story like this? Incompetent administration? Rampant dishonesty? Or is it just that numbers hardly matter any more - what's half a billion these days?




posted on Oct, 24 2009 @ 07:27 AM
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I bet she's going to have the nicest doll house in town.


If I managed my money as well as the government does I'd be in debt, too.



posted on Oct, 24 2009 @ 07:32 AM
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Originally posted by sad_eyed_lady
If I managed my money as well as the government does I'd be in debt, too.


That money they're managing is yours. They took it from you. Now they've blown it all so you can't ever get it back.

Like stealing the Mona Lisa and burning it so nobody can ever have it back.

It's bad enough they steal from us at gunpoint. Throwing it all away as they do is an amazing insult.

And 9 out of 10 morons are perfectly happy with it. Tax us some more sir. We love it. I didnt need to eat this month but there's a four year old out there who needs an $8,000 home buyer credit. At least I could be thanked for my generosity once in a while.



posted on Oct, 24 2009 @ 07:58 AM
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I looked at the paperwork and only one of the people applying has to be a first time home buyer to get the credit. So people who have a house and are upgrading can't apply... or can they?

Take one of your kids and add there name to the title then they are elligible to apply for and get the credit. Is it fraud? Who knows to me it looks like a badly designed program that people figured out how to play to there advantage.

While I think these people are being sneaky, I do think they should be thanked for showing us how badly our gov't manages every program it runs.



posted on Oct, 24 2009 @ 08:09 AM
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reply to post by exile1981
 


WE just bought a mini farm out in Kansas... the wife and I are retired and just to make sure there's no problems later we put our daughters name on the deed too... when were gone she'll have a house for her and our granddaughter... they never asked how old she is and so she would be entitled to the credit as a first time buyer... were not doing it but still we could...



posted on Oct, 24 2009 @ 08:14 AM
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reply to post by pause4thought
 


Interesting, because my daughters boyfriend just bought a home last week and after the closing day he doesn't even know when his 8,000 dollars are going to be in his hands, it seems that many have to wait for weeks even months before getting the credit.



posted on Oct, 24 2009 @ 08:23 AM
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reply to post by DaddyBare
 


Why not, it qualifies, everyone else is getting it even if they shouldnt, at least you are buying a house/land and her name is on it and its legal, i mean moraly , sure i can see where one would not want to do it, but hey the govt has screwed us enough the past couple of years, might as well get some of the cash that is being handed out, stick it in a savings account for your grand daughter, so when she turns 16 or 18 she can get a car and get a start on life.

Normaly i would say, no way, i would not take it, but i tell ya, any more the way they are throwing our cash away, i'm leaning more twords why not, not like its going to matter in time anyway, they are spending us into a debt we cant get out of, might as well try to protect your loved ones.



posted on Oct, 24 2009 @ 09:36 AM
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reply to post by severdsoul
 


I don't do it for the same reason I didn't buy into the cash for clunkers program... those tax credits are taxable income... if I signed my daughter up for that, then she would have to pay taxes on that income... besides its not an automatic 8 grand it's up to 8 grand or 10% of purchase price... we only paid 12.7 K for the mini farm 4bd house and 6 acres at a foreclosure auction... so that's what... $1,270 in credit...




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