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

Real Estate Corner: Down payment required — myth or reality?

Super Bowl 50: Bay Area residents cash in by renting out homes

In Baltimore, a piece of Frederick Douglass history is on the market

This large office building along the Daniel Webster Highway in Merrimack could soon be converted into 21 apartment units.

Apartments proposed for under-used office space in Merrimack

Most growers cultivate their mushrooms on logs. Some species of wood are better hosts than others.

Backyard cultivation is mushrooming

Home & Garden

Lilac photo winners announced

READER COMMENTS: 0

The Governor's Lilac & Wildflower Commission has announced the winners of the 19th annual Lilac Photo Contest.

A bench in memory of Katie Bentley.

Hotel and lilacs proposed for Hackett Hill site

READER COMMENTS: 0

John Bentley plans to plant more than 300 types of lilacs as part of a proposed botanical garden/festival venue/commercial development on Hackett Hill Road in Hooksett, creating a monument to the...

Keeping guinea hens around the yard provides protection, meat and eggs.

Yardsmart: Guinea hens a natural – and noisy – defense against ticks

READER COMMENTS: 0

This is the beauty of a bird that is still half wild, maintaining its self-sufficient instincts while prowling your yard and garden for ticks on ground, deadwood, shrubs and trees.

A three-story building at Hooksett's Carrington Farms condominium complex remains vacant, five months after snow caused the roof to collapse.

Long wait frustrates Hooksett condo owners

READER COMMENTS: 0

Five months after accumulated snow collapsed the roof and drove them from their homes, owners of a Hooksett condominium building found out that they won’t likely be returning anytime soon.

The owners of Tiffany Gardens, located at 15 King John Drive in Londonderry, will open their gardens to the public this weekend as part of The Garden Conservancy's Open Days program, a series of self-guided garden tours across the nation.

Open Days features two NH gardens

READER COMMENTS: 0

Two New Hampshire gardens are scheduled to be open for visitors this weekend in the Garden Conservancy's Open Days program.

House, garden tour on July 15 in Wolfeboro

READER COMMENTS: 0

The 28th annual central New Hampshire VNA and Hospice Home and Garden tour is Wednesday, July 15, from 10 a.m. to 4 p.m.