Update: Federal Housing Authority, FHA - Sign up for the Money Morning free daily e-letter below and you'll receive your FREE copy of this just-released Federal Housing Authority report:

Federal Housing Authority Infusion: Why Congress Wants to Waste
$300 Billion in Taxpayer Money

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Do you think the taxpayers should pay another $300 billion to bail out dead-end mortgages? We don’t either. Here’s why Congress better put the shovel down when we’re in the hole...

As you read this, both houses of Congress are pushing something that’s so dangerous that it should be immediately abandoned and revealed for what it is - a ticking time bomb labeled with the initials FHA.

That ticking sound is getting closer and closer to the point of ignition. Most folks aren’t aware of it, and others who should know better are ignoring it.

This latest threat we’re referring to, of course, is the Federal Housing Administration, generally known as the FHA, which might get a $300 billion infusion to insure new mortgages for low- to middle-income borrowers in danger of being foreclosed.

This idea is inane and stillborn, as if Congress is still unaware that such risky loans are the reasons why we’re in this whole mess!

This FREE report has all the details on the FHA plan and lays out two reasons why Congress will lose this battle - saving the American taxpayers hundreds of billions.

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