1,295 Prisoners Bought Homes Using Homebuyer Tax Credit

Once again, your tax dollars at work.  According to CNN Money, 1,295 prisoners, including 241 serving life sentences, bought homes and defrauded the government of $9.1 million in tax credits reserved for first-time homebuyers, according to a Treasury Department report released in June of 2010.  The CNN Money article also goes on to say that “Treasury’s inspector general also found that thousands of people filed multiple claims or made claims outside the allotted time period. In all, more than $28 million was improperly doled out.

Now that we know prisoners can qualify for homeownership, maybe real estate agents agents should start addressing that market.  Even better, think of all the residual sales you’ll get from neighbors once they discover they’re living next to a prisoner, thanks to your “Just Sold” postcards.  I wonder if they’ll default on their mortgages and get their mortgage forgiven?

Read entire article >>>>>  http://money.cnn.com/2010/06/23/real_estate/money_stimulus_fraud/index.htm