FHA going broke? How to qualify for a home loan anyway

As the economy is supposed to be emerging from the dark cave of deep recession, you might expect it would become easier for you to secure a mortgage in the months ahead. The truth is, however, that unless you start taking some key steps right now, you may find yourself still in that recessionary cave instead of a new home, because the Federal Housing Administration is running out of money. For many potential home buyers, that's a bit like your rich uncle Sam, who was always a soft touch for a few extra bucks, filing for bankruptcy and leaving you in the lurch.