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Tax Cheats Received Federal Mortgage Insurance and Homebuyer Tax Credits

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The Federal Housing Administration insured over $1.44 billion in mortgages for 6,327 borrowers with $77.6 million in federal tax debt who benefited from the 2009 American Recovery and Reinvestment Act. Of these borrowers, 3,815 individuals claimed and received $27.4 million of First-Time Homebuyer Credits from the Recovery Act., according to a report by the Government Accountability Office.

Tom Coburn

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