In an interesting post on his excellent, informative FHA Mortgage Guide blog, author Peter Miller notes that, over a 5-year period, FHA and VA loans have basically lost half of their market share. While this may speak more to the nature of a loan market that approved virtually anyone, anywhere for any loan, anytime, it also suggests that those in the government responsible for managing programs intended to increase home ownership may not have been as proactive as they should have been over the past few years. Despite the fact that they're not as sexy as "no doc, no talk, just walk" loans - all of which seem to be going into default now - VA and FHA loans tend to be much safer, and an all-around better alternative to the risky, toxic products that have been at the heart of the current foreclosure mess.  

With President Bush proposing the FHA Secure program, hopes abound that some of these governmental programs will continue to help deserving families move into homes, and prevent some disenfranchised homeowners from losing theirs.