Comments for Congress Passes Tax Fraud Credit for Homebuyers at http://www.cepr.net , comment 1 to 2 out of 2 comments http://www.cepr.net Thu, 20 Jun 2013 05:44:05 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/congress-passes-tax-fraud-credit-for-homebuyers#comment-1266 Mr. Yun's statement WAs ridiculous....one of the lenders we use (I am a real estate broker)was closing loans in 2 weeks,if necessary , during this timeframe. And as for short sales, we cautioned buyers back in February that they might not get the credit if they wrote on a short...What really irked me though, was NAR initiating a "call to action" to support carried interest benefits. - greg Fri, 02 Jul 2010 02:28:53 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/congress-passes-tax-fraud-credit-for-homebuyers#comment-1264 One argument I heard for extending the deadline was that many of these purchases were for short sales and short sales are notoriously slow. This, too, doesn't seem to stand up to scrutiny. First, I highly doubt that the 180,000 is all short sales. Second, if the banks are slow agreeing to a short sale, given the delay they are now even less motivated to assure the sale goes through. There are undoubtedly other reasons this is not legitimate. However, if this were true, then Congress only needed to provide an exception for those involving short sales. Like Dean, I see the potential for fraud as very great. Knowing several people in the real estate business (realtors, mortgage people, closers, etc.), I see this as very likely, indeed. They have all told me stories, or they themselves were the story were lack of ethics were demonstrated. - Bill Turner Fri, 02 Jul 2010 02:02:35 +0100