The Biden administration is lowering rates on the mortgage insurance people have to pay when they take out a loan backed by the Federal Housing Administration.
Government-backed loans with the Federal Housing Administration help borrowers who might look like a foreclosure risk. And the reality is many of them are.
The Federal Housing Administration's annual report is due out this week, and there's concern that the agency, which insures more than a trillion dollars in mortgages, is in big financial trouble.
President Obama reportedly plans to announce some new help for hurting homeowners. There's word one part of the plan would make it cheaper to refinance mortgages insured by the Federal Housing Administration.
