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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Les H who wrote (27792)3/4/2005 4:45:09 PM
From: BWACRead Replies (2) of 306849
 
<For example, a borrower with adequate reserves earning $2761 a month and making a 3 percent downpayment can boost her home buying power from $200,000 to $260,400 by opting for a Home Possible Neighborhood Solution Mortgage over standard 97 percent LTV mortgages, all other things being equal.>

$2761 = $260,400 = using credit cards for month to month bills = not eating much = forever and deeper in debt. (Assuming of course they don't flip it out for 50% profit every year!)
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