Saturday, April 16, 2011

Home tax credit was abused

"Most of the money — about $326 million — went to more than 47,000 taxpayers who didn’t qualify as first-time homebuyers because there was evidence they had already owned homes. "

The money should be recaptured and any borrowers who knowingly committed fraud or any mortgage loan officers who committed fraud on behalf of a borrower should be criminally prosecuted and jailed.

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