FHA insured $1.44B in loans to tax deadbeats

Homebuyers who owed IRS more likely to end up in default

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.