Here’s your Mortgage Crisis! Katrina, Fraud, what to do??

There’s been a lot of people asking about how the presidential candidates are going to keep people from losing their homes.
The story below is one of MANY in which borrowers falsified documents in order to obtain loans.

Please read it, then tell me why tax paying citizens should bear the burden for these bad loans?
Thanks.

“Robert Green had pleaded guilty in April to federal felony charges stemming from a scheme in which he prepared false tax returns attached to fraudulent home loan applications from as early as 2001

Before word of his guilty plea surfaced in December, Green had been championed by actor Brad Pitt to be among the first to receive a home through Pitt’s Make It Right program.”

More here:
http://news.aol.com/story/_a/activist-gets-probation-for-fraud/20080227093109990001?ncid=NWS00010000000001

My green card is pending, but I got my work permit and social security number already. I currently don’t have a job and I am 66 years old.

Can I buy a house now, i.e. put my name on the title so that I can senior tax exemption and first time home owner incentives?

Can my child who is US citizen be the co-owner of the house so that he can avoid inheritance tax when I pass away?

Can I be a co-borrower with my child to get a mortgage loan? I just live in US for a year and don’t have much credit. But my child has good credit score. I want to get the lower interest rate for first house owner.

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