20
Sep
FHA Home Loans in Worst Shape in 75 Year History
FHA home loans
This latest FHA loan news should come as nothing new for all our long time readers. On 12-16-08 I published a post entitled FHA Home Loans – The Next Bailout? and than on 7-2-09, I published: FHA Home Loans Headed for Trouble? Just yesterday, the FHA said its financial reserves had sunk below mandatory levels for the first time in its 75-year history. While officials insist the agency won’t require a taxpayer rescue, falling home prices, rising unemployment and shady lenders continue to drive up default rates.
