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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (90904)4/6/2001 5:49:45 PM
From: Ilaine  Read Replies (3) of 436258
 
There are more low income people buying houses with low or no down payments, but the loans are held by or guaranteed by Uncle Sugar. Even if the people default, Uncle doesn't have to evict them. After all, they'll just wind up living in Section 8 housing, which will cost more to the taxpayer.

It's a social experiment which may work out quite well - look at what VA housing did for our parents. For those who qualify for VA housing, it's a very sweet deal, and if you run into trouble, they'll work with you. It's far better to own than rent. Homeowners get to live in better neighborhoods, send their kids to better schools, they have a stake in the community, build up wealth to pass on to their children.
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