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We need to ABOLISH FHA Loans!!!!
FHA LOANS need to go !!!!

FHA loans need to go....  so many defaults... GROWING by the thousands. If we don't kill FHA mortgages now, the economy will crumble. Sound confusing?
Okay Jeff, have you flipped your lid?  NOPE - I had written this blog last week, FHA loan rumors have become a reality. Because of this post, I have seen a few comments stating that we need to abolish FHA loans. Here are some comments in regards to these FHA changes in general...
"The FHA is basically bankrupt since they haven't figured out that making loans to people with lots of debt and practically no money isn't such a good idea."
"What continues to frustrate me is that all these government bank bailouts, loan purchasing, Fannie Mae and Freddie Mac guarantees, FHA expansion, tax credits, etc. are doing nothing more than temporarily artificially propping up the real estate market.  The government cannot continue with these policies and the result will be another drop when they stop."
"When just putting 3.5% down, the borrower is already underwater from day 1, because it costs more than 3.5% to sell a home. This does not factor well in a ... more

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