Will Taxpayers Have to Bail Out FHA?

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Will Taxpayers Have to Bail Out FHA?

September21

The Federal Housing Administration stepped up to guarantee low-downpayment mortgages for riskier buyers after the mortgage market crashed. Now with many of them in default, the FHA’s losses have mounted, and it’s possible that its reserves will fall below the 2 percent level required by law. If that happens, taxpayers may have to bail out FHA.

Some housing analysts say that this will lead to tighter restrictions on FHA mortgages.

“It absolutely changes the political dynamic once you have to ask taxpayers” for money, says Lisa Marquis Jackson, vice president for John Burns Real Estate Consulting.

The 10 states with the most FHA-insured mortgages are:

Texas
California
Florida
Georgia
Ohio
Illinois
Pennsylvania
Michigan
Virginia
North Carolina

Source: The Wall Street Journal, Nick Timiraos (09/05/2009)

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Broker in Georgia, Michigan, Florida, Louisiana, Tennessee, South Carolina and Alabama. Rhonda is also an Expert Buyers Agent, Licensed Auctioneer, NLP Practitioner and Personal Coach who recommends www.NLPCoaching.com to anyone who is serious about life. And, Rhonda is an Accredited Staging Professional. She is ranked #10 in the US by Realtor.com and #1 in Atlanta by the MLS. She has been interviewed and quoted in The Wall Street Journal, asked to speak on CNBC’s On the Money, interviewed in Women’s World magazine, Points North magazine, and many other national publications including Marketwatch. All interviews have noted her as a consumer advocate and industry expert. Rhonda has also licensed her business model to many cities in the U.S. www.RainmakerRealty.net
Her motto is “A wise consumer helps us all!”

After a long road of volume real estate with other companies where her career blossomed, Rhonda opened Duffy Realty to get out of the box of traditional real estate. Rhonda will tell you the truth not only about real estate, but also about the home you are thinking about purchasing or selling. If you want an opinion that you can use against your own sound decision making, you need to hire Rhonda Duffy to represent you. Listen to “Real Estate Revealed” with Rhonda Duffy on 640 WGST, Sunday from 9 a.m. to 10 a.m. Rhonda Duffy reveals all the truths from the myths in real estate!

Rhonda also does charity auctions at no charge with her team of bid assistants and clerks. Auction companies charge upwards of 10% of the proceeds to perform these services. Rhonda does 12 per year at no charge for worthy charities.

You can view her auctioning here. http://www.duffyrealtyofatlanta.com/real-estate-community-service.html

Rhonda also serves a board counsel to many boards in Atlanta. Her passion however is empowering people with the use of NLP. If you have seen “The Secret” you understand NLP. Rhonda takes this to a new level to help people understand that they are the cause of the result that they are getting in life.

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