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Alarm Bells Warn Of New Wave Of Mortgage Fraud As "Quick Defaults" On FHA Loans Begin To Spike

By r morris

The Washington Post reports:[T]his decade's housing boom rendered the agency irrelevant. Americans raced to aggressive lenders, seduced by easy credit and loans with no upfront costs. But the subprime mortgage market has crashed and borrowers are flocking back to the FHA, which has become the only option for those who lack hefty down payments or stellar credit. The agency's historic role in

Full post as published by The Home Equity Theft Reporter on March 16, 2009 (boomark / email).