WC Varones

Don't lend your hand to raise no flag atop no ship of fools

FHA is the new subprime

Told ya!

Calculated Risk points out BofA's stable/declining delinquencies on non-FHA loans, and huge and rising delinquencies on FHA loans.

What do you expect when you give people loans with zero or near-zero down? They've got no skin in the game. They're gonna walk as soon as payments get tough or the home value goes underwater.


SarahB said...

We tried FHA to buy our home (used VA instead), and I will tell you...NO ONE will sell their home to you with an FHA loan, so I don't know who in the hell all these people are who are defaulting.

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