Wednesday, March 17, 2010

Screwed by Lender AGAIN

Sigh... I just looked at the tax forms to claim the $8000 credit and it look like we won't be able to claim it. To get the credit, you need to send in the closing statement from escrow and ours only has my name. Initially, all three of our names were on the purchase but the lender was giving us a hard time. In order to speed up the process, we decided that I would take out the loan which also required taking my parents off the title. So now, my parents are nowhere on the transaction so I'm pretty sure if they try to claim the credit, it will get rejected. My AGI is too high so I'm not allowed to take the credit either. How come I'm always on the wrong end of this wealth redistribution thing?!

Adding insult to injury, the initial lender that caused all these problems (Provident Financial) just sold my loan to CitiMortgage after only two months. Arg!

1 comment:

Anonymous said...

you can always quit your job and start a company in china with 100,000 of competitors ready to squish you. then you move from the rich side of the equation (where stuff gets taken from you) and go to the poor side (where stuff is supposedly given to you). but don't count on wealth re-distribution. the governments at every level is in such dire shape that they will just tax the rich and keep it.