IRS Agent Admits to Squatting in Home After Filing Bankruptcy
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IRS Agent Admits to Squatting in Own Home After Filing Bankruptcy

September 7, 2012


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IRS Agent Beverly Hood makes her money investigating homeowners for alleged mortgage fraud, but she once had to squat in her own home after going two years without making mortgage payment, according to The Wall Street Journal.

While sharing her story last week with a reporter, Hood admitted that she had once been investigated for mortgage fraud herself after failing to make payments on her home loan for several months.

Sources say that Hood filed for bankruptcy in December 2009, and for the next two years she and her husband did not make a single payment on their $500,000 home in Greeley, Colorado, although they continued to live at the residence.

One day last year, one of the IRS agents who worked for Hood filed an internal complaint against her, claiming that she had committed mortgage fraud.

The 49-year-old agent, who still works for the IRS, told the Journal, "I had no idea why I was being called in. I couldn’t figure out what I could have possibly done wrong on my tax return ... [t]hey said, 'You’re being investigated for mortgage fraud.'"

When she learned about the investigation, she was “embarrassed,” but she quickly regained her composure after realizing that no fraud had occurred. This belief was confirmed by the IRS investigation.

Still, the fact that a seasoned IRS agent could find herself on the precipice of home foreclosure because of poor financial decisions is a sobering reminder that mortgage debt can strike anyone, at any time.

Sources suggest that Hood may not have been the primary cause of her family’s financial troubles, however. In fact, most of her financial troubles may have resulted from her husband’s poor investment decisions.

Hood’s spouse reportedly invested in several upscale Greeley restaurants that folded at the onset of the recession. The restaurants stopped paying him a salary in the middle of 2009, just a few months before the couple filed for bankruptcy protection.

To her credit, the experience has reminded Hood of the challenges honest, hard-working homeowners face when making the mortgage payments. And as she continues her work for the IRS, she admits that it’s "not my job to pass judgment on people."

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