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Buy a Home With a Government Grant? Avoid this Scam
If you watch enough late night television, you'll see
advertisements that suggest that the Federal Government is giving
all kinds of things away. You'll see ads for auctions that
promise that you can buy a Ferrari for $500 or a home for $1000
through "government liquidations" or some such thing. You'll also
see ads that promise to tell you how you can get money for free
to purchase a home. Is this for real? Will Washington provide you
with money to purchase a home?
It shouldn't surprise anyone who wasn't born yesterday that
these ads that sound too good to be real are just that. Yes, the
Government makes millions of dollars available for certain uses,
and yes, some of those uses include housing. But little of that
money is available for individuals, and none of it is available
for John Q. Public to buy a home on a golf course in Shady Pines
Estates. Most of the available funds are available only to
businesses and other organizations, not individuals. You can
obtain grant money if you own a company that would like to build
a 100-unit apartment complex for low-income residents. You might
even obtain some grant money if you'd like to overhaul a 100-year
old home in a blighted neighborhood as a step towards urban
renewal. You won't get the money to build or buy the mansion next
door to Tiger Woods.
So yes, funds are available, but only under fairly limited
circumstances. And the process of applying for and receiving
grant money is fairly complicated. It's not just a matter of
filling out a form and waiting for the money to arrive. The
process involves a pile of forms, and reports, and plans and
outlines for how, when and where you intend to spend the money.
After you get the money, you'll probably have to report exactly
how the money is being spent and whether or not everything is
going according to your plan. Obtaining grant money is not a free
lunch. It's hard work, and the people responsible for handing out
the money want to know that the money is being spent wisely.
It may be worthwhile to check out what sort of grant money is
available. If you are interested, you can find out what's
available, for free at http://www.grants.gov. That's a far
better alternative than spending money from some huckster on late
night TV, and if you decide that you don't qualify for grant
money, then you haven't wasted anything but your time.
©Copyright 2005 by Retro Marketing.
Charles Essmeier is the owner of Retro Marketing, a firm
devoted to informational Websites, including End-Your-Debt.com, a
site devoted to personal bankruptcy, debt
consolidation and credit counseling, and HomeEquityHelp.com, a
site devoted to information regarding mortgages and home equity
loans.
 MORE RESOURCES updated Thu. February / 09 / 2012
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