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AlpineBV_Miller

08/04/11 2:26 PM

#124459 RE: oldberkeley #124448

As someone with a lifetime of experience in the real estate business, I know that business plan well.

For all FHA loans, the government says to the bank, "You check-out the applicant's credit-worthiness and then lend him the money. If he defaults, we'll cover it."



Yup. The irony of that given the recent financial crash wasn't lost on me...