The home buyer tax credit deadline is approaching and there are many people scrambling to either find a home or get a signed contract to take advantage of the credit.
I am not sure of how these contracts are going to be validated by the government but if they are not sent in to be recorded by the deadline, then it leaves the door open for fraud.
Will contracts get back-dated to help borrowers to take advantage of the credit? Is there a mechanism to prevent this? If this happens, it is stealing from the government which usually does not come with a slap on the wrist. All parties involved would probably be charged with a crime.
Hopefully someone can clarify for me how the government has planned to prevent people from back dating contracts to take advantage of the first time home buyer credit.
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