Late Mortgages Hit All-Time High In Q3; New Fears For FHA
Will borrowers and banks have to pitch in to lift the Federal Housing Administration's dangerously dwindling reserves? The FHA could raise minimum down payments and borrower fees or make banks assume more loan risk. But those proposals aren't politically popular. A third option, a taxpayer bailout, isn't on the table yet but could wind up there if the issue isn't solved, government officials say. Meantime, mortgage delinquencies continue to soar.