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Another Bailout Coming for the Banks Disguised as a Bailout for Homeowners
From the WaPo: Officials with the Treasury and the Federal Deposit Insurance Corp. are crafting a plan under which the government would guarantee the mortgages of as many as 3 million homeowners now struggling to avoid foreclosure, according to three sources familiar with the discussions. Under the program being discussed, the lender would agree to reduce... »
FHASecure: A Helping Hand for Those Who Did Not Refinance in Time
Update January 9, 2009: This program is no longer available effective December 31, 2008. This afternoon I received our Mortgagee Letter from HUD with the nitty gritty on FHASecure. Since our company is a HUD Approved Mortgagee lender (we’ve been providing FHA financing since our inception back in 1976); we are also approved to help... »
FHA Secure: A Political Power Move Disguised as a Helping Hand to Those in Need
Bush offered America some presidential words this morning to let us know he’s on top of this whole subprime meltdown, credit crunch, liquidity crisis. On his agenda: An FHA bailout in the form of a new feel good loan program: FHA Secure. Let’s pause for a moment and reflect back on how well HUD... »
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