The FHA federal mortgage insurance program is being expanded to protect banks from losses on loans that exceed home values in exchange for helping homeowners nearing foreclosure to refinance. The stated goal is, “one hand washes the other,” but what does it really mean for you?
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Fuelling the over-heated housing market a couple of years back was real estate investing, and the result today is a condo market where units are selling for half of what people paid for them in 2005. Anyone who purchased a condominium as an investment must have realized the potential to lose money, no matter how [...]