Friday, November 13, 2009

F.H.A., Cash Dwindling, Tightens Home Loan Rules -

F.H.A., Cash Dwindling, Tightens Home Loan Rules - "The Federal Housing Administration, the government agency whose loan-insurance programs have become a crucial source of support for the housing market, said on Thursday that its cash reserves had dwindled significantly in the last year as more borrowers defaulted on their mortgages."
So they are tightening loan requirements and making noises about so far not yet needing a bailout that wouldn't really be a bailout.

1 comment:

Mitch said...

Hopefully they're telling us what we ought to know. Why is that people continue to make some good money in real estate? When many say that it is the first that's experiencing crisis because of all these daily changes. Thanks and good luck.