Today we had a work day and I began to research about the Federal Housing Administration. Also most people did a lot of talking about all of the forum posts, it was pretty funny.It was passed in 1934 because the housing industry was failing. Mortgage terms were terrible and you could only borrow up to 50 percent of the houses value. More people in America rented homes than owned them.This helped the military to get houses for returning veterans and their families. In the 50’s to 70’s it made apartments for the elderly, handicapped and poor Americans. They tried to steady falling home prices and tried to get homebuyers the financing they needed to buy.http://www.fhasecure.gov/offices/hsg/fhahistory.cfm
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