The Detroit News ran an article today titled, “Seven tied to mortgage fraud: Paroled killers among those FBI accuses of bogus home sales”. The article describes a fraud scheme perpetrated against a real estate project located on Detroit’s riverfront involving straw buyers.

In the article, Ralph Roberts, an expert on mortgage fraud, says of the paroled prisoners involved in the fraud, “While they were paying their debt to society, their credit was cleansing itself and preparing them to be perfect straw buyers.”

Apparently, doing time may be good for your FICO® score. Though it’s not a recommended way to repair one’s credit!