Tax credit used before home was closed.
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Tax credit used before home was closed.
What happens when a sales agent / manager has your house approved by the bank but, want close on the house because they want you to get your taxes filed first so they can use the tax credit as part of the down payment. Is this legal? The house in question is thru Holiday homes.
Asked on March 25, 2009 under Criminal Law, Ohio
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
This is possibly fraud because your lender approved the loan (your broker wrote the application) based on false information (the money you don't have yet).
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