The FHA is experiencing "a large number of zero payment defaults" in which borrowers fail to make even one payment on their new government-insured mortgages, a Department of Housing and Urban Development official said at the Mortgage Bankers Association's annual National Fraud Issues Conference in Las Vegas. More fuel to the fire, when will this crap end?
Sorry, Here's the link: http://ml-implode.com/staticnews/2009-03-19_ZeroPaymentDefaultsAreontheRiseatFHA.html