With the dems in charge this could be scary. I'm glad were selling our house and moving on. Anyone looking for lake property?
Struggling homeowners could get new government-backed loans
Tuesday, April 22, 2008
By JULIE HIRSCHFELD DAVIS, Associated Press
Writer Link
In one part,
Taxpayer dollars would be at risk should borrowers default on their new mortgages.
The FHA, however, would have some non-taxpayer money to cover losses. The agency would collect a 3 percent fee on the refinanced loans, as well as annual 1.5-percent premiums, and share a portion of borrowers' future proceeds if the
property is refinanced again in the future or sold.
Isn't it nice how politicians can always use tax payers money. What a racket!
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