FHA Lenders Warned on New Borrower ‘Buy and Bail’ Scam
October 6, 2008
FHA lenders have gone on the alert over a new unscrupulous practice: borrowers buying and bailing on their primary residences, allowing the property to go into foreclosure. In an effort to halt this fraudulent behavior, the Department of Housing and Urban Development is urging lenders to take a tough stance against such schemes...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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