Fha Projected To Exhaust Reserves, Could Need Bailout

By Jim Puzzanghera, Los Angeles Times
Fri, 11/16/2012 - 5:46am

WASHINGTON -- The Federal Housing Administration, which has played a crucial role in stabilizing the housing market, said it ended September with $16.3 billion in projected losses -- a possible prelude to a taxpayer bailout.

Sections: news politics business

Topics: bailouts billion economy federal housing administration housing market real estate u.s. economy

US home sales rebound slightly in February
U.S. home sales picked up slightly in February but remain sluggish due to tight inventories, affordability problems and nasty winter weather. More
Bill Gates repeats at top of Forbes' list of billionaires
World's richest man got richer with $79. billion in 2015. More
Vanilla Ice charged with burglary in Florida
Vanilla Ice has been charged with breaking into and stealing from an abandoned home that is in foreclosure in Florida. More
Dollar rises above 100 yen for 1st time in 4 years
The dollar has risen above 100 yen for the first time in more than four years as currency traders persist in selling the Japanese currency in reaction to Tokyo's aggressive credit-easing moves. More
Microsoft may buy Barnes & Noble's Nook unit for $1 billion
According to internal documents obtained by the website TechCrunch, Microsoft has offered $1 billion for the digital assets of Nook Media, Barnes & Noble's digital book venture. According to internal documents obtained by the website TechCrunch, Microsoft has offered $1 billion for the digital assets of Nook Media, Barnes & Noble's digital book venture. More