FHA To Get Its First Bailout In Its 78 History!

by Michael Bolton on February 13, 2012

I previously blogged that FHA was most likely going to need a bailout due to the decline in it’s insurance fund. Diana Olick with CNBC is reporting that indeed FHA will be getting its first ever bailout. Apparently they were going to ask for $688 million in the current budget proposal, which is most likely dead on arrival.

Don’t worry they have a back up plan! They’ll get $1 billion from the shakedown of the mortgage lender’s”robo signing” fiasco, and guess what else? They’re going to raise their fees again. Sooner or later people are going to wake-up and realize that this can’t go on forever, our country isn’t made of money. Well, let me take that back, I guess we can just print what we need. If you believe in the simple law of cause and effect, then this isn’t going to end well. There will be a day of reckoning!

If you have any questions, or real estate appraisal needs (divorce, bankruptcy, tax appeal, or estate planning) please contact Michael at 612.599-2581, or use the form on the contact page.

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