FHA Tightening Standards on Zero-Down Loans

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Manage episode 233076512 series 2394432
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The government is cracking down on affordable housing programs that help buyers with their down payments. HUD issued a clarification letter on the rules for FHA loans. The crackdown is the result of growing concern about the risk that zero-down government-insured home loans present to the $1.3-trillion-dollar mortgage insurance fund. Historical data shows that those borrowers are twice as likely to default on their loans. www.NewsForInvestors.com

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