Rising FHA default rate foreshadows a crush of foreclosures

[Arraya]

http://www.washingtonpost.com/wp-dyn/content/article/2010/02/01/AR2010020103527.html
About 9.1 percent of FHA borrowers had missed at least three payments as of December, up from 6.5 percent a year ago, the agency’s figures show.
Although the FHA’s default rate has been climbing for months and eating into the agency’s cash, the latest figures show that the FHA’s woes are getting worse even as the housing market shows signs of improvement. The problems are rooted in FHA mortgages made in 2007 and 2008. Those loans are now maturing into their worst years because failures most often occur two to three years after a mortgage is made.
If the trend continues and the FHA’s cash reserves are exhausted, the federal government would automatically use taxpayer money to cover the losses — a first for the agency, which has always used the fees it charges borrowers to pay for its losses.

[sdrealtor]

Its funny. As soon as I saw the headline I knew who the poster was. Seems like old times with old whats her name.

[sdrealtor]

Its funny. As soon as I saw the headline I knew who the poster was. Seems like old times with old whats her name.

[sdrealtor]

Its funny. As soon as I saw the headline I knew who the poster was. Seems like old times with old whats her name.

[sdrealtor]

Its funny. As soon as I saw the headline I knew who the poster was. Seems like old times with old whats her name.

[sdrealtor]

Its funny. As soon as I saw the headline I knew who the poster was. Seems like old times with old whats her name.

[Nor-LA-SD-guy]

Frankly I think we are too close to a double dip recession for the powers that be to let a flood of anything occur if they can help it.

If we go double, I think you better buckle up everyone, it will be a very wild bumpy ride if that occurs.

Too many are too close to the edge right now, it would be very ugly and no one would be having a good time no matter how much money or assets you may currently think you have.

[Nor-LA-SD-guy]

Frankly I think we are too close to a double dip recession for the powers that be to let a flood of anything occur if they can help it.

If we go double, I think you better buckle up everyone, it will be a very wild bumpy ride if that occurs.

Too many are too close to the edge right now, it would be very ugly and no one would be having a good time no matter how much money or assets you may currently think you have.

[Nor-LA-SD-guy]

Frankly I think we are too close to a double dip recession for the powers that be to let a flood of anything occur if they can help it.

If we go double, I think you better buckle up everyone, it will be a very wild bumpy ride if that occurs.

Too many are too close to the edge right now, it would be very ugly and no one would be having a good time no matter how much money or assets you may currently think you have.

[Nor-LA-SD-guy]

Frankly I think we are too close to a double dip recession for the powers that be to let a flood of anything occur if they can help it.

If we go double, I think you better buckle up everyone, it will be a very wild bumpy ride if that occurs.

Too many are too close to the edge right now, it would be very ugly and no one would be having a good time no matter how much money or assets you may currently think you have.

[Nor-LA-SD-guy]

Frankly I think we are too close to a double dip recession for the powers that be to let a flood of anything occur if they can help it.

If we go double, I think you better buckle up everyone, it will be a very wild bumpy ride if that occurs.

Too many are too close to the edge right now, it would be very ugly and no one would be having a good time no matter how much money or assets you may currently think you have.

[scaredyclassic]

however, that is the article, and that is the headline…someone in the article mentions that the FHA should be fine moving forward because the avg borrowers FICO score is up from 630 to 690 from the bad years of 07-08 to the good year of 09. maybe. seems like even govt money is going to get tighter.

[scaredyclassic]

however, that is the article, and that is the headline…someone in the article mentions that the FHA should be fine moving forward because the avg borrowers FICO score is up from 630 to 690 from the bad years of 07-08 to the good year of 09. maybe. seems like even govt money is going to get tighter.

[scaredyclassic]

however, that is the article, and that is the headline…someone in the article mentions that the FHA should be fine moving forward because the avg borrowers FICO score is up from 630 to 690 from the bad years of 07-08 to the good year of 09. maybe. seems like even govt money is going to get tighter.

[scaredyclassic]

however, that is the article, and that is the headline…someone in the article mentions that the FHA should be fine moving forward because the avg borrowers FICO score is up from 630 to 690 from the bad years of 07-08 to the good year of 09. maybe. seems like even govt money is going to get tighter.

[Author]

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