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This suggests that if a borrower defaults on the loan, the government will cover marcoeiyg862.fotosdefrases.com/more-about-how-does-payment-with-mortgages-work the lender's losses. Due to the fact that of this assurance, government-backed loans are typically a perfect service for novice and low-income home buyers. These loans are backed by the Federal Housing Administration and are great for newbie house buyers or those with bad credit - after my second mortgages 6 month grace period then what.