Pros and cons of a no doc mortgage refinance dear bob. The fha created in 1934 to make homeownership attainable for low to moderate income americans is now providing a lifeline to new manhattan luxury condominiums after sales stalled. Manhattan luxury condos try fha backing in sales game changer in which we read that the federal housing administration agreed in march to insure mortgages for apartments at the 98 unit gramercy park development known as tempo.
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