This is so wrong in so many ways.

Woman apparently to make $94,000 “giving away” Gilbert, Arizona home she can’t sell.

Complicated gambling-related laws in the state deterred Gray from going the house raffle route…

Yeah, the State frowns on people setting up their own personal lotteries, anti-gambling laws and all that (and the State doesn’t want anyone horning in on their lottery monopoly.)

That’s why she teamed up with a charity to give away the house as a donation.

HOLD IT! She is NOT giving away the home. She’s underwater on the home and the charity will pay off her mortgage PLUS give her a ton of money.

Of the $500,000 raised, $350,000 will go to Gray to pay off her home loan and some credit card and student loans.

The rest will go to the charity.

The house cost Gray $256,000 in 2007, including upgrades.

Okay, let’s do the math. You don’t even need a calculator for this one!

She could receive $350,000 for a home that she bought last year for $256,000. Hmm, there seems to be a $94,000 gain (less expenses). Not bad for giving your home away. She’s very generous. A saint.

Seriously, I got a feeling this ain’t gonna happen.