Is the F.H.A. in trouble?

According to a report in the New York Times, the backbone of the US government's housing programs may be facing financial difficulties.

Chances are nearly 50 percent that the Federal Housing Administration will need a bailout next year if the housing market deteriorates further, the agency’s independent auditor said in a report released Tuesday.

The agency's cash reserves have dropped by almost 45% from this time last year. This could result in the need for central government to pump money into the F.H.A. system.

Stay tuned.

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