Housing Agency’s Cash Reserves Down Sharply
Posted on November 13th, 2009 by MoverMike
The Federal Housing Administration, the government agency whose loan-insurance programs have become a crucial source of support for the housing market, said on Thursday that its cash reserves had dwindled significantly in the last year as more borrowers defaulted on their mortgages.
“Scotty, we need more money!”
“I’m sorry Captain, we haven’t got any more money!
My apologies to Star Trek!




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