Tuesday, February 2, 2010

Rising FHA default rate foreshadows a crush of foreclosures - washingtonpost.com

Rising FHA default rate foreshadows a crush of foreclosures - washingtonpost.com

Adding to the trouble was a now-defunct FHA program that enabled sellers to cover the down payments of buyers.

Free Cash!

Those with especially weak credit scores will also have to put down at least 10 percent instead of the usual 3.5 percent down payment.

Low Rates!

About 9.1 percent of FHA borrowers had missed at least three payments as of December, up from 6.5 percent a year ago, the agency's figures show.


The economy is improving!


What could go wrong.

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