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Residential Re-Sale, Commercial Properties, Foreclosures and Investments…As a long-time Fullerton resident Adam is intimately familiar with North Orange County neighborhoods. He has extensive expertise in residential real estate, commercial build outs, hard money lending and mortgage banking. As an authorized REO agent for GMAC, CountryWide Home Loans and World Savings he has extensive experience in all aspects of the foreclosure process. Investors rely on his knowledge and experience to help them identify and capitalize on distressed properties.

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First-Time Homebuyer Tax Credit A Magnet For Fraudsters

October 27th, 2009 • Related • Filed Under

The $8,000 first-time homebuyer tax credit has been a target for fraudulent claims. There have tax creditbeen more then 90,000 fraudulent claims made including those made by former homeowners and children.

Eligibility for the tax credit issued by the Obama Administration extended to those who has not owned a primary residence in the last three years and earned less than $75,000 as an individual or $150,000 as a married couple.

The IRS has discovered 167 criminal schemes, opened 115 criminal investigation and has temporarily frozen more than 1110,000 refunds. They found that 582 supposed first-time home buyers were under the age of 18 and 73,7999 claims belonged to people who already owned a home.

Through late August more than 1.4 million claims have been made towards the tax credit.

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