FHA May Soon Need Taxpayer Assistance - Page 2
Could this signal lessened taxpayer refunds in 2013 to fund the needs of what appears to be misappropriated FHA decisions? Or will our mortgage backing agency finally get their balance sheets in order long enough to promote healthy borrowing? We have clear securities violations where we have securities that never had any underlying collateral; as a result, we had to hide the fact Ginnie Mae allowed banks to be able to file false claims against the FHA Mortgage Insurance Premium, causing the current mortgage finance constraints of today.
It's even more harrowing to think that our next four years could determine just how much more of a financial hole our country will be in personally and whether the amount of cash loans we seek will increase, let alone giving money to FHA agencies to pay off what many Americans will contest to being 'their bad', not ours. This double-edged sword will continue to drown our housing market until somebody presents the government with some huge package to refinance this debt.