And, it's over.
http://www.zerohedge.com/news/2013-0...asury-bail-out
FHA has officially gone insolvent and failed. Just announced yesterday that FHA needs a bailout for the first time in its nearly 80 year history. The institution now needs $1.7 billion dollars just to stay afloat just as I predicted back in 2011.
48 laws should never ever give advice to anyone on mortgages for the rest of his life.
Quote:
Originally Posted by 48Laws
No it's not. This is also recommended by many industry experts. The delinquency regarding FHA loans isn't as cut and dry as you make it. Again, PMI is to offset the lack of equity in a new home which is something lenders want to safeguard. I recommend 3-15% down and the rest for emergency funds. Why throw all your money into a liability anyway? Bad advice. Lol
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