Page 2 of 3 FirstFirst 123 LastLast
Results 11 to 20 of 22

Thread: Fraud Reported in Program to Help New Homebuyers

  1. #11
    Sage
    Ikari's Avatar
    Join Date
    Dec 2006
    Location
    Colorado
    Last Seen
    12-08-17 @ 01:05 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    54,124

    Re: Fraud Reported in Program to Help New Homebuyers

    What! Fraud and theft from an ineffective government give away program!? Surely you jest!
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  2. #12
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Today @ 12:19 PM
    Gender
    Lean
    Independent
    Posts
    16,263

    Re: Fraud Reported in Program to Help New Homebuyers

    Quote Originally Posted by Middleground View Post
    Amen, Redress. Fraud is wrong, whether it's done by someone rich or poor. Striped down, the Wall Street fall can be blamed on greed, just like the idiots in this story that are ruining a good program.
    While greed can be a nasty component, Wall Streets "correction" was more so based on "animal spirits". Many aspects of market correction are based upon survival. I have little doubt there can be some instances of system abuse related to necessity, although that does not entirely excuse them of their wrong doing.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  3. #13
    Professor
    bowerbird's Avatar
    Join Date
    Oct 2009
    Location
    australia
    Last Seen
    04-02-15 @ 09:30 PM
    Gender
    Lean
    Liberal
    Posts
    1,430

    Re: Fraud Reported in Program to Help New Homebuyers

    Quote Originally Posted by RightinNYC View Post
    http://www.nytimes.com/2009/10/23/us...ousing.html?hp



    Massive social program hemorrhages money due to fraud - there's a shocker. At least we've learned our lesson from this and aren't discussing an expansion of another massive social program any time soon.

    In all seriousness though, I'm glad that Obama isn't supporting an expansion of this, and hope that this article gives him the push he needs to end it altogether.




    This might sound bad, but why on earth was this program open to people with incomes below a certain level? $50k is enough to buy a home in many places, but you'd think they'd refuse to offer the credit to people making less than, say, $30k.

    If we have a housing crisis created by people buying houses that they couldn't afford, it seems kind of stupid to try to fix it by incentivizing people to buy houses that they can't afford.
    $50 K for a house!!

    My 2 bedroom apartment is worth $300,000!!

    But here we would not be questioning aiding low income earners because they are part of our national view of ourselves - "the little Aussie battler".

    Surely there are "American battlers" who try their best to get ahead, who scrimp and save every penny to put a roof over their children's heads?
    Greenhouse gases: Any gas that, by an accident of chemistry, happens to absorb radiation of a type that the Earth, by an accident of history, would like to lose.
    The internet is like a herd of performing elephants with diarrhoea -- massive, difficult to redirect, awe-inspiring, entertaining, and a source of mind- boggling amounts of excrement when you least expect it.


  4. #14
    Professor
    bowerbird's Avatar
    Join Date
    Oct 2009
    Location
    australia
    Last Seen
    04-02-15 @ 09:30 PM
    Gender
    Lean
    Liberal
    Posts
    1,430

    Re: Fraud Reported in Program to Help New Homebuyers

    Quote Originally Posted by Ikari View Post
    What! Fraud and theft from an ineffective government give away program!? Surely you jest!
    It is not the fact that it is occurring - what should be reassuring is that it is being caught
    Greenhouse gases: Any gas that, by an accident of chemistry, happens to absorb radiation of a type that the Earth, by an accident of history, would like to lose.
    The internet is like a herd of performing elephants with diarrhoea -- massive, difficult to redirect, awe-inspiring, entertaining, and a source of mind- boggling amounts of excrement when you least expect it.


  5. #15
    Professor
    Missouri Mule's Avatar
    Join Date
    Jul 2005
    Location
    Hot Springs, Arkansas
    Last Seen
    04-02-13 @ 09:44 PM
    Gender
    Lean
    Conservative
    Posts
    1,406

    Re: Fraud Reported in Program to Help New Homebuyers

    This is what brought on the economic meltdown. The same crooks in Congress are bound and determined to finish the job. The FHA is now bankrupt. The FDIC is out of money. We own half a dozen companies as U.S. taxpayers. The Congress evidently cares not one whit about the pending bankruptcy of the United States. As far as I am concerned they are part of the criminal class.

    I asked my banker one time what happened. Her response simply was this. There are people who should never have been home owners in the first place. All of this do-gooder nonsense is what put us into the soup to begin with. People who can repay loans would not have brought this calamity upon us. After the deadbeats and crooks dipped their grubby fingers into the public purse we were doomed. It is just a matter of when. Moody's says we will be bankrupt as a nation in less than five years.
    Last edited by Missouri Mule; 10-22-09 at 09:17 PM.
    "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants." Thomas Jefferson

  6. #16
    Educator
    Join Date
    Aug 2007
    Last Seen
    11-15-15 @ 11:02 PM
    Gender
    Lean
    Liberal
    Posts
    802

    Re: Fraud Reported in Program to Help New Homebuyers

    The abuse of this program was predicted pretty much immediately on tax preparation forums. EIC is a largely abused program, and an $8,000 refundable credit is more than EIC, and requires less information on the preparation of a tax return. One thing they could have done to reduce the fraud would have been to require the HUD-1 be sent with the tax return.

  7. #17
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    Virginia
    Last Seen
    12-15-17 @ 10:49 AM
    Gender
    Lean
    Conservative
    Posts
    76,323

    Re: Fraud Reported in Program to Help New Homebuyers

    Quote Originally Posted by apdst View Post
    The people that these programs are designed to help are usually the folks that abuse them the most.
    Hey, it's free!!!


    *mob rushes in trampling the announcer*
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  8. #18
    Banned
    Join Date
    Oct 2009
    Location
    LIBTARDISTAN
    Last Seen
    05-01-10 @ 11:38 AM
    Gender
    Lean
    Undisclosed
    Posts
    3,629

    Re: Fraud Reported in Program to Help New Homebuyers

    Quote Originally Posted by American View Post
    Hey, it's free!!!


    *mob rushes in trampling the announcer*
    'Obama money' will do that to you......

  9. #19
    Girthless
    RightinNYC's Avatar
    Join Date
    Mar 2005
    Location
    New York, NY
    Last Seen
    01-23-11 @ 11:56 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    25,894

    Re: Fraud Reported in Program to Help New Homebuyers

    Quote Originally Posted by bowerbird View Post
    $50 K for a house!!

    My 2 bedroom apartment is worth $300,000!!
    Back where I grew up, you can buy houses in crappy areas for almost nothing. Ex.

    MLS ID#: 206590 - Residential Real Estate | Utica, NY 13501

    $21,500 for a 4 BR/1.5 Bath.

    Now, living in the city, it's a little different.

    But here we would not be questioning aiding low income earners because they are part of our national view of ourselves - "the little Aussie battler".

    Surely there are "American battlers" who try their best to get ahead, who scrimp and save every penny to put a roof over their children's heads?
    We still have these, though it seems like it's becoming less common.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

  10. #20
    Banned
    Join Date
    Oct 2009
    Location
    LIBTARDISTAN
    Last Seen
    05-01-10 @ 11:38 AM
    Gender
    Lean
    Undisclosed
    Posts
    3,629

    Re: Fraud Reported in Program to Help New Homebuyers

    Quote Originally Posted by RightinNYC View Post
    Back where I grew up, you can buy houses in crappy areas for almost nothing. Ex.

    MLS ID#: 206590 - Residential Real Estate | Utica, NY 13501

    $21,500 for a 4 BR/1.5 Bath.

    Now, living in the city, it's a little different.



    We still have these, though it seems like it's becoming less common.
    I'll bet it is cheap in Detroit, especially a foreclosure.....

Page 2 of 3 FirstFirst 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •