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fha loans: FHA Refinance Loans for Struggling Homeowners - 08/06/08 12:33 PM
A lot has happened over the last two months, with regard to the continuing mortgage crisis. Notably, the federal government passed a new act that will offer FHA loans to homeowners at risk of losing their homes. Traditionally, the FHA has focused on helping home buyers (as opposed to homeowners) by insuring the loans made by private lenders. This encouraged the lenders to offer loans to people they normally wouldn't qualify -- if the borrower defaulted on the loan later on, the lender would be covered by the FHA's backing. But with the passing of the Housing and Economic Recovery Act
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Brandon Cornett
Round Rock,
TX
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