Combined with low mortgage rates this sounded like another windfall for those looking to go from renter to homebuyer; …
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FHA Mortgage Loans sink quick; what does this mean for the tax credit extension?
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March 4 (Bloomberg) ? The number of contracts to buy previously owned U.S. homes unexpectedly declined in January, showing the extension of a tax credit is sparking little interest. The index of purchase agreements, or pending home sales, ...... The FHA, in its annual review, doesn't give an estimate of the share of loans it backs that are underwater, although it does warn that such loans will greatly boost losses. The economists' study also says the FHA should better ...