The real facts about the FHA

Reuters

A sign announces an open house for a home for sale in Silver Spring, Maryland, May 23, 2010.

Article Highlights

  • The FHA's risky lending practices will result in a half-million new foreclosures among the 4 million loans insured since 2008.

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  • FHA is the government's subprime lender.

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  • We can strengthen homeowner opportunity and our national economy by fixing FHA's abusive practices.

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Tomorrow, the National Association of Realtors (NAR) will be running its second ad presenting what it calls facts about FHA. Not being satisfied with the FHA’s decades-long lending nightmare that has resulted in an estimated 3.2 million dashed homeowner dreams since 1975, it is launching a new ad campaign entitled “FHA Facts”.

Click here to see the new FHA ad

NAR says its one million members “oppose any changes to FHA that will cause a disruption to the housing sector…” and now is not the time for reform. They’ve said that for over 60 years. FHA’s decades long history of hurting working-class families and communities must end. It is time to give 315 million Americans an FHA they can be proud of. Get the real facts about FHA’s failures.

Click here to see what FHA isn’t telling you

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Edward J.
Pinto

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