Summary
"Working with the Federal Housing Administration (FHA) and its modernization project was passed in the Senate and House," explained Secretary [Kim Kendrick]. "It is much easier for them to follow our lead than us following them. The good thing about many of the loans from companies that went under is that they can now go with an FHA lending product."
"What borrowers can do is recast their loans so they can come over to FHA and use our housing council," said Secretary Kendrick. "They can work with them if their lenders are out of business, but if people want to get out of their current rates or they feel if they have been subject to inappropriate housing practices, they can go to FHA."See the full content of this document
Extract
Hud Cries Foul in Housing Practices
The collapse of the subprime loan market was just one of the signs that something was afoot in lending practices amid the housing bo...
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