The good thing about having your own blog is you can voice your own opinion. The bad thing about having your own blog..you can voice your own opinion.

This is my view of the $8,000 tax credit...just one Loan Officer's opinion and I speak for no one but myself.

I think it is an insulting, stupid, ineffective answer to a complex issue. For want of a more profane example...it's as if the Federal Government is a nervous meddling wife sitting at home wringing her hands and planning new ways to "enable" us to continue our bad behaviors. She is making excuses for us, calling in sick for us and covering up for our lazy-selfish-greedy ways.

Perhaps the federal government should let us grow through the pains and natural consequences of our own actions, our over-spending, refusal to learn how to budget and then live by it, lack of drive, lack of follow-through and refusing to ween ourselves from the government teet.

Today, some statistics came out stating that over 100,000 people committed tax fraud to steal the $8,000 tax credit. 500 applicants were children or teens who had never filed and never purchased a home with no ability or intention of purchasing a home. I suspect it wasn't the 4 year old who filled out the tax forms...I suspect it was mom or dad. Of course, I could be wrong.

Ya, we should extend this ridiculouse free-money-greed-inducing-banaza!

First-Time Homebuyer Credit

The First-Time Homebuyer Credit, originally passed in 2008 and modified in 2009, provides up to $8,000 for first-time homebuyers. The purchaser, however, must qualify as a first-time homebuyer, which for purposes of this credit means someone who has not owned a primary residence in the past three years. If the taxpayer is married, this requirement also applies to the taxpayer's spouse. The home purchase must close before Dec. 1, 2009, to qualify, and the credit may not be claimed on the purchaser's tax return until after the taxpayer closes and has purchased the home.