Industry NewsMortgage

FHA insured $1.44B in loans to tax deadbeats

Homebuyers who owed IRS more likely to end up in default
Published on Jul 3, 2012

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by CareyBot

You might recall the scandalous findings by the Treasury Department's Inspector General that the IRS sent $7,500 and $8,000 first-time home buyer tax credit checks to thousands of people who simply asked for them between 2008 and 2010, with no documentation showing they were eligible or had even purchased a house. Among the recipients: hundreds of prison inmates, kids as young as three, and dead people.

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