False Claims for the $8,000 Tax Credit

You now have until the end of November to utilize the tax credit available to "first-time" homebuyers who purchase a home this month.

Baltimore Sun reporter Jamie Smith Hopkins has estimated there are 19,000 people who have claimed the credit and have not bought a home. It’s amazing that there are people who are willing to commit fraud to get the $8,000 without buying a home.

It is possible there is as much as $600 million dollars worth of bogus first-time homebuyer tax-credit claims. With a total of more than 1.4 million first-time homebuyer tax-credit claims filed since late August, says the Los Angeles Times.

In addition to this, there are numerous reports of people under the age of 18 receiving the credit. There is even a case of a 4-year-old who has received the tax credit, says U.S. News & World Report.

For more great information go to First Time Home Buyers Are Leading The Way.

There still may be enough time for you to qualify for the $8,000 tax credit For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City. He can be reached at eddie@InvestHoboken.com or 201-344-2886.