House Committee Approves FHA Reform, Overlooks Changes to Minimum Down Payment


This post announces:

House Committee Approves FHA Reform, Overlooks Changes to Minimum Down Payment

On Tuesday, April 27, 2010, the House Financial Services Committee approved legislation that the lawmakers say will keep the FHA viable and enable it to continue insuring mortgage loans. The FHA’s continued viability came into question after rising defaults caused the federal agency’s reserves to fall below 2 percent, the minimum amount required by law.

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Real estate investor
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