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Reverse Mortgage Programs News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Detailed text transcripts for TV channel - FOXNEWS - 20130927:23:36:00

file for bankruptcy protection. u.s. government is bailing out one of its own agencies. the federal housing administration has announced its plans to withdraw 1.7 billion taxpayer dollars to stay afloat after massive losses from its reverse mortgage programs. reverse mortgages allow people 62 and older to borrow against the value of their homes to pay regular living expenses. analysts warn these sorts of loans can be risky. the agency reports it lost money after some americans took large payments upfront and then ran into financial trouble down the road. this marks the first time in the agency s 79 year history that it is withdrawing cash from uncle sam. well, on the very same day we learned that president obama s historic phone call with the president of iran, there is word now that iran hacked into our military computers. a senior u.s. official tells fox news hackers in iran were able to break into unclassified navy computers in recent weeks. officials say those hackers work directly

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