On 27 June 1934, the National Housing Act (NHA) created the Federal Housing Administration (FHA), which helps provide mortgage insurance on loans made by FHA-approved lenders. FHA, today, is seated within the US Department of Housing and Urban Development (HUD). Without becoming bogged down in the legislative history of FHA, what is important to understand is how FHA --- read HUD --- is directly involved in the foreclosure process. FHA underwrites the loan guarantee upon millions of homes in the US today. An FHA mortgage is a way to get . . .
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