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To: NativeNewYorker
This anonymous email leaves out one very important fact, noted in a news story from another thread:

The FHA's plan could cost as much as $200 million if all the estimated 20,000 eligible homeowners apply, federal officials say. But none of that total would be taxpayer funds. The money would come from FHA insurance reserves funded by premiums paid by borrowers who have FHA-insured mortgages, the officials say.

It's either this plan, or the FHA owns the houses in a depressed real estate market.

12 posted on 12/05/2005 11:21:44 AM PST by sinkspur (Trust, but vilify.)
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To: sinkspur

Fwiw, I posted the entire story that was available at the time. I'm glad you can add to it.


13 posted on 12/05/2005 11:27:58 AM PST by NativeNewYorker (Freepin' Jew Boy)
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