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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: jjs_ynot who wrote (442)	8/28/2001 4:37:15 PM
From: David Jones	Respond to of 306849

"105 percent mortgages"http://www.inman.com/InmanStories.asp?ID=25931&CatType=R A good friend of mind just closed last week on a 400K personal residence for him and his wife with nothing down. He's an I.T specialist for the state and has out standing credit but not two nickels to rub together after the hosing he took after taxes. He got a good broker and some advise and bought a decent home with the added attraction of having a small unite in the rear that he has rented to his mother in-law. If he sees a 10% +/- or so retraction in value he's still in good shape considering he has income and tax advantage he didn't have before. These are great loans for the right people imo. Regards; dave