Plugging the Fraud Holes

As Congress mulls whether to extend the first-time home buyer credit of $8,000.00, they're looking at the numbers which, on one level are truly disturbing.

The good news is, some 400,000 first-time home buyers have taken advantage of the credit. The absolutely horrific news is that it's now revealed that at least 70,000 of those applications are FRAUDULENT.

Great. 

We brought in Dean Zerbe for a Fox Business Exclusive.  Dean was a former tax fraud investigator for the Senate Finance Committee.  He told me he suspects the number of bogus claims is most likely MORE than 70k.  But he said plugging the fraud holes isn't so tough. Listen to my interview with him.  Congress should too before they decide whether to extend this program!

--Liz