The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Mike Johnston who wrote (24618)	10/18/2004 1:48:30 AM
From: ild	Read Replies (1) of 306849

The no-down lowdown More home buyers with good credit but little cash are turning to 100% financing. latimes.com Mike Cherashore recently used 100% financing to buy a two-bedroom, one-bath home with a guesthouse in Inglewood for $450,000. "I didn't have the cash for a down payment, and I was looking at all kinds of creative ways of getting into a house," said the pharmacist, who pays about $3,000 monthly for his mortgage. Similarly, Elizabeth Gallegos didn't think she could afford the $310,000 for a two-bedroom, one-bath house in Atwater until her real estate agent suggested a zero-down loan. Without such a mortgage, buying the house would have been "impossible," according to the 31-year-old television-station employee, who pays $1,925 monthly on her mortgage.

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