from latimes....
"If the housing market fails to rebound next year, the FHA would need as much as $43 billion from the U.S. Treasury to stay afloat, the report said. That would add to the combined $150 billion already spent to rescue seized housing finance giants Fannie Mae and Freddie Mac.
The FHA's projected losses on loans made mostly before 2009 continue to increase, eating away its cash reserves. The agency is dangerously close to being in the same dire position as many homeowners — upside down on its housing finances"............READ MORE
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