Welcome guest, you have 2 views left. | Register | Sign In
 Contests
 Readers' Choice
 Movie times
 Property Transfers
 Auctions
 Restaurant reviews
action:article | category:NEWS13 | adString:NEWS13 | zoneID:7

Home » News » Avenues

AVENUES PARTNERS:
NH homes for sale

Search MLS

Courtesy of


Type:
Residential
Condominium
Multi Family
Land
Mobile Home
Commercial
Rentals

Towns & cities:
Price:
Low:   $
High:   $
Villages:

Locate open houses

Search By MLS #

Classifieds


 ♦ REAL ESTATE
 ♦ APARTMENTS
 ♦ HOME SERVICES
 ♦ MERCHANDISE

Click to place free online ad for items valued under $500.

Opinion

November 16. 2012 9:40PM

FHA tries to stave off bailout

WASHINGTON (Reuters) - The U.S. Federal Housing Administration, facing a $16.3 billion deficit, will increase mortgage fees next year and take other steps in an effort to avoid a taxpayer bailout, the Obama administration said on Friday.

The agency, a primary source of funding for first-time home buyers and those with modest incomes, said it would raise the premiums it charges on loans it guarantees by 10 basis points, adding, on average, about $13 per month to a borrower's cost.

A basis point is one-hundredth of a percentage point.

Housing officials would not say whether the steps would be enough to keep the agency from turning to the Treasury Department for a cash infusion. "I'm not going to place bets," FHA Acting Commissioner Carol Galante told reporters.

An independent audit delivered to Congress on Friday showed the FHA had depleted the capital it would need to cover expected losses on the $1.1 trillion in mortgages it backs. It said the losses would leave the agency $16.3 billion in the red.

The FHA's troubles stem from rising defaults on mortgages it guaranteed from 2007-2009 as the housing bubble was deflating. As private capital dried up during the bust, the FHA's role grew. It now insures about 1.2 million loans, or about 15 percent of all U.S. home loans, up from 5 percent in 2006.

Galante emphasized that the White House's annual budget proposal in February would be instrumental in determining whether the agency would need taxpayer funds by the time its fiscal year expires on Sept. 30.

Any final determination would not be made until September.




Real Estate

Public feedback needed at upcoming workshop in Dover

Nashua's Harbor Homes grows, changes

Selling of Catholic church properties is a sign of the times

Real Estate Corner: What you need to know about financing before you buy a home

The New Hampshire Jewish Federation building on Beech Street in Manchester.

Jewish Federation looking to sell Manchester headquarters

Home & Garden

There's fun to be had in cleaning up after a tough winter

READER COMMENTS: 0

The end of snow brings the start of yard cleanup.

Affordable housing fund gives developers options

READER COMMENTS: 0

Salem selectmen have approved a trust fund to help establish additional affordable senior housing units in town.

Bedford planning board to hold Wayfarer property site walk

READER COMMENTS: 0

The planning board will conduct a site walk relating to the redevelopment of the Wayfarer property at 121 S. River Road.

Keith Archambault, service manager at Nashua Outdoor Power, gets a lawn tractor ready for summer.

Spring will be here eventually, so don't wait for the last minute to prep your power equipment

READER COMMENTS: 0

Spring will be here eventually, so avoid the rush to get your lawn equipment ready.

Nancy Caswell of Jaffrey looks out over the landscape in her back yard where birds and beasts flock. Caswell‚s property has become a Certified Wildlife Habitat by the National Wildlife Federation.

Your yard could be a certified wildlife habitat

READER COMMENTS: 0

From the balconies of city apartment buildings to the rolling fields of family farms, residents throughout New Hampshire have created wildlife habitats, and for their efforts they have been given a...

Old House and Barn Expo attendees enjoy the expo last year..

Merging modern tastes, historic homes can take an expert's help

READER COMMENTS: 0

The New Hampshire Preservation Alliance, in preparing for its March 15-16 Old House & Barn Expo, checked with some key sources to explore what's trending and what's classic.

Alicia Spence, of the Timber Framers Guild, uses a hollow chisel mortiser while Bob Spoerl, right, and fellow Guild member Joel McCarty, backround right, work on frame joints with chisels to demonstrate the craft of building a timber frame using historic techniques. The Timber Framers Guild was an exhibitor at last year'ss Old House and Barn Expo at the Center of NH in Manchester.

Showcasing traditional arts at the NH Old House & Barn Expo

READER COMMENTS: 0

In New Hampshire, people have a great appreciation for history and traditional arts. Many communities are home to artisans dedicated to preserving traditional ways of doing things and making things.

Salem senior housing development taking shape

READER COMMENTS: 0

Construction on the Braemoor Commons senior housing development is underway and is getting high marks from some Planning Board members.

Jonathan Gibson shows a visitor the lathe dating from 1885 that he uses to create unique and reproduction pewter ware in his Hillsborough shop. Gibson's father started the shop, and when he was ready to retire, “I jumped out of the real estate business and into this and I've been here ever since,” he said.

Jonathan Gibson's craft goes back centuries

READER COMMENTS: 0

Hillsborough pewterer continues an age-old craft.

On Beam Day, family and friends of Dave Adams got together to hoist into place the two new 400-pound beams the crew had been preparing for weeks. Left, Jim Russo and Brendon Garrett are on the staging; Jeff Wheeler is standing inside the Portsmouth house on the first floor while Eric Heitmann adds more braces to the staging.

Restoring Portsmouth home takes craft and vision

READER COMMENTS: 0

Dave Adams and his wife, Debby, were only in their 20s when they bought the old house at 210 Gates St. in the South End in 1974.