Another Leader Targeting High-Risk Mortgages
April 29, 2007
The Federal Housing Commissioner Brian Montgomery is joining others in clamping down on high-risk mortgages.
"Many first time and minority homebuyers face significant challenges when trying to purchase a home," he said. "In recent years, such difficulties have resulted in many of these individuals assuming risky, adjustable-rate, subprime loans. The impact on minorities is particularly profound. There needs to be a mortgage alternative that will qualify a wide swath of borrowers and simultaneously provide them with the loan option they need – a modernized and reinvigorated FHA."
Posted in All Things San Diego, Lending, Real Estate, Things of Interest
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