FHA Bailout in Sight 25

fha mortgage fundYou’ll be happy to know that the FHA released a statement that it probably doesn’t need to immediately get bailed out by the Treasury. Because otherwise you might have been concerned that their rising losses and mounting debt ($16 billion so far) might mean they were in trouble. And you know what Uncle Sam does when someone’s in trouble (except to guys like you and me of course).

It’s such a tragedy to see organizations like FHA still trying to pretend they’re not what they are. They’re Mututal Mortgage Insurance Fund should just come out and admit that they’re going to need a bailout. All the statements in the world don’t amount to much when you have a brain and a google search of their history.

But still, at this point it’s just something to gripe about. Do any of you think they won’t be raiding the piggy bank any time soon? Am I way off base. I may be totally relaxed from my Maui trip but I’m willing to bet I’m spot on. Anyone going to take me up on that?

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