I read a great post from DSNews.com recently on the statistical audit of who has applied for and received the homebuyer tax credit. For those individuals who submitted a purchase offer by April 30, 2010, and was able to close their home purchase by June 30, 2010, you qualified. As you know, it was for either an $8,000 first time homebuyer credit, or $6,500 for existing homeowners purchasing a new primary residence.
Ironically, if you were a prison inmate here in the United States it appeared you had a better chance of having your rebate approved. Over $9.1 Million in credits have been sent to addresses that are now confirmed to be either federal or state prisons. Ironically, these included a number of rebates that were submitted on the SAME house. DSNews.com goes on to state that these payouts went to more than 1,200 inmates, including more than 270 who are serving life terms, or worse. To think, as a Realtor that is struggling to get my buyer in before the June 30 deadline, all I really needed to do was have them put a return address of "Sheriff Joe's Tent City" on their claim and it appears it would have been paid. Well, not really. The IRS goes on to say they absolutely know where these fraudulent claimants are and will be going after them for a return of the monies. Let's just hope they didn't have a sale at the prison canteen and that the money is already spent.
For those that were legal, as of February 2010 there have been over 1.8 million new homeowners who took advantage of this rebate for a total payout of $12.6 Billion. When you consider there have been three different program roll-outs/extensions, and the IRS having to create forms and processes for each of these, the bad guys didn't get away with too much. Looking at the big picture I guess having only 1,200 fraudulent claims is pretty small potato's. Unfortunately, with the recent extension failing to make it off the Senate floor you only have 3 days left to qualify.
If you are in the market for a home, or have a home to sell, in the Phoenix/Scottsdale, AZ market I would appreciate your allowing me to assist you. I am a certified short sale negotiator (SFR, CSSN & CDPD) and work with all lenders in assisting homeowners avoid the costly process of foreclosure. If you can longer afford the home you own, whether you've lost your job or are simply upside down in equity, I can help. Time is of the essence... I look forward to speaking to you about your particular situation. Have a Blessed week.
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