Business and Personal Finance Dictionary

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• HOUSING BONDS
  
  Housing bonds are issued by both state and local governments. They are secured by mortgage repayments on single family homes. Added protections come from, federal subsidies for low income families, FHA insurance, VA guarantees, and private mortgage insurance. Public Housing Authority (PHA) issues are no longer available. However, some do trade in the secondary market. PHA's are backed by the full faith and credit of the U.S. government.
  
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