Have money can't buy a house (New York, York: insurance, hotel, cheap house)
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If you are qualified you will get a job. Half the employees in my office building come from DesiVille.
NO! New York Times ran a story a couple of years ago about legal immigrants with college degrees who can't find work in college-level fields. Hence they are reduced to underemployment. Even in Manhattan and Queens I came across taxi drivers and waiters from south asia with engineering degrees. On a visit to Fordham U, I met a security guard from Ghana who graduated from SANDHURST. They are all here legally but cannot work for mainstream companies because their resumes are being ignored by employers. And we wonder why many of them work off the books...
I really hate to see all the nasty and hateful responses that were posted to my simple question. First off even if my parents did work of the books they have never used any of foodstamps or medicaid. Unlike all the lazy bums on LI they get up every morning at 4am and drive a taxi cabs until 8 or 9pm to make a nice life for their children. Let's not pretend that all these blue color Irish Italians who live on LI pay all their taxes and do everything by the book. We have met plenty of construction, plumers, electricials who were begging us to pay them partially or fully in cash, so lets not get all bent out of shape.
Getting back to my question, all I gather from your responses is that there is no way for me to legally purchase a house.
OP Welcome to Long Island. If you're not like them something must be wrong with you. I have had so many contractors come to my house like you mentioned and when I offer to pay with a check they say yea but would prefer cash. I am sure they are not running home to call the IRS. OP please consult a good lawyer and I am sure you can get it done. Please do not listen to hateful, jealous remarks that some of these people have post here. Long Island = Not in my backyard. A lot of the closed minded ones cannot even come together and agree one something that benefits them. They stifle business growth (cannot put up an apartment building in their neighborhood, yet complain no affordable housing for the young) Would vote against any large business development, but complain there are not jobs) This is an area eating itself to death from the inside out. You're lucky you did not mention that you were of Hispanic descent, they would have tracked you down, formed a committee and deported you themself. (well they can agree on something they hate anyone not like them especially immigrants, because their grandparents magically popped up here and were not immigrants themselves.
NO! New York Times ran a story a couple of years ago about legal immigrants with college degrees who can't find work in college-level fields. Hence they are reduced to underemployment. Even in Manhattan and Queens I came across taxi drivers and waiters from south asia with engineering degrees. On a visit to Fordham U, I met a security guard from Ghana who graduated from SANDHURST. They are all here legally but cannot work for mainstream companies because their resumes are being ignored by employers. And we wonder why many of them work off the books...
Forest_Hills_Daddy They are more educated and would be more productive to their (town, city, state, country) than some of these spoiled kids that we pay $20k a year in taxes to send to school but because they don't look, talk like the Jonny or Billy = are immigrants people automatically they live off public assistance and are being supported by their tax dollars. We Americans are the most entitled, obnoxious bunch of people I have ever met. (I love the you're in America speak English but the first thing an American does when he goes on vacation to a foreign country is to ask do you speak English) We are the only country where a majority of the people do not speak more than 2 languages.
OP Welcome to Long Island. If you're not like them something must be wrong with you. I have had so many contractors come to my house like you mentioned and when I offer to pay with a check they say yea but would prefer cash. I am sure they are not running home to call the IRS. OP please consult a good lawyer and I am sure you can get it done. Please do not listen to hateful, jealous remarks that some of these people have post here. Long Island = Not in my backyard. A lot of the closed minded ones cannot even come together and agree one something that benefits them. They stifle business growth (cannot put up an apartment building in their neighborhood, yet complain no affordable housing for the young) Would vote against any large business development, but complain there are not jobs) This is an area eating itself to death from the inside out. You're lucky you did not mention that you were of Hispanic descent, they would have tracked you down, formed a committee and deported you themself. (well they can agree on something they hate anyone not like them especially immigrants, because their grandparents magically popped up here and were not immigrants themselves.
I'm always disgusted when I read posts from Long Islanders, blaming illegal immigrants and minorities for the world's ills. Sometimes, Long Island makes the Deep South look like a bastion of brotherhood. There are a lot of decent, hardworking folks out here -- including the illegal immigrants who cut our lawns and clean our houses -- but there are also people who still can't tolerate any other racial or ethnic group. It's sad.
With that said, however, the OP's parents and in-laws are committing a crime by not reporting income. To be able to amass $400,000 "off the books" is as disgusting as those who hate illegals. Whether its those folks or Mitt Romney, I'm getting tired of making up the difference in taxes when others don't pay their fair share. And since the OP seems to want to point brazenly to other non-taxpayers as an excuse for the criminal activity, I've now changed my attitude toward him. I hope he and his folks get snared by the IRS.
why would you have a problem buying a house in cash? deposit the money in an account and have your parents sign an Affidavit certifying the $400K is a gift. Thats all you need. Get a mortgage broker or a bank to prepare a Pre-Approval/Pre Qual letter and you use that to present an offer to the seller. All you need to do is prove the funds are in the bank account, and you are good to go. If you dont need a mortgage, then you dont have to jump through any of these steps. Happy shopping!
I'm late onto this thread, but if the newlyweds deposit the $400K into an account, the parents are working off the books and sign an affidavit stating the large amount was a gift, won't it trigger any red flags with the IRS?
If I were the OP I would just rent a nice house. Forget laundering the money. Live off that cash till it runs out and save everything you legally earn.
If I were the OP I would just rent a nice house. Forget laundering the money. Live off that cash till it runs out and save everything you legally earn.
Yes, I also posted this earlier. Makes more sense to rent moreso because rentals are attractive in LI nowadays. Then invest the balance that would have been used for principal. They may even get a higher return than buying a house.
So many people up in arms about what another person does with their money.
They didn't pay taxes, Boo Hoo...
Nothing of substance to contribute? Move along to the next topic.
Most of y'all sound extremely jealous btw.
Sounds like you had your knickers in a knot over a legal program...yet feel someone skirting the law is OK?
Quote:
Originally Posted by KFC.ONE
I too am outraged at the whole rescue thing.
People that have played by the rules and getting screwed while those that got in way over their head are being given interest rates lower than someone like myself who has done everything by the book is able to get or would be able to refinance for.
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