FHA Loans Meant For Low-Income Borrowers Going To The Wealthy

11/08/2011 02:49 pm ET | Updated Jan 08, 2012
  • Lorraine Woellert Bloomberg

Congress is weighing a proposal to restore higher loan limits that expired on Oct. 1. The measure, already adopted by the Senate, would allow the FHA and government-controlled Fannie Mae and Freddie Mac to insure single-family mortgages for as much as $729,750, up from the current $625,500, in high-cost parts of the country.

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