“”And who would do this and why?””
I’m sure it happened so she could claim the $8000 first time homebuyer credit. Reports out this last week found 90,000 ineligible and suspicious claims of tax credits totaling over $600,000,000 under that program. There was even a 4 year old who was approved for that credit.
See FR “Over $600 Million Of Credit For First-Time Home Buyers are Suspicious.”
Everyone who ever approved loan papers like this should go to jail.....EVERYONE! No charges, no trial, just straight to jail. Loan approval is evidence enough. People are fed up with the door being opened like this from DC and those who are told they “are entitled” will jump on the wagon every time.
And what about the responsibilities of the buyers? You surrender your responsibilities you forfeit your rights.
My son bought his forst home in 2008. He found out from his accountant just a month ago that the $7,500 homebuyer credit he was counting on his 2008 return was gone. There was a virtually hidden $75,000 income limit on that program that he or I never knew about.