FHA is broke & 17% of borrowers defaulting

November 13, 2009 By BankSlayer 1 Comment

Go figure.  FHA borrowers are defaulting at a 30% faster rate than non-FHA borrowers.  Shocking! Since the FHA only requires a 3.5% down payment and the seller can chip in 3-6%, home buyers can move into a home for…drum roll please… all together now… Zip, Nada, Zero!   Not much skin in the game huh? The [...]

Filed Under: Blog for Realtors Tagged With: 3.5% down, defaults, FHA, FHA broke, Houston, sellers concession, Shaun Donovan