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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (712)	9/11/2003 5:23:26 PM
From: mishedlo	Respond to of 110194

Here's especially bullish news. However I am damned disappointed that FNM is depriving those last 3 renters from getting a house. WTF can they possibly be thinking? No more "no money down" home loans, geez what wrong with these people? story.news.yahoo.com New Loan Rules May Price Out Home Buyers By GENARO C. ARMAS, Associated Press Writer WASHINGTON - Manufactured homes are a popular choice for low-income families, but new regulations from mortgage giant Fannie Mae could price some of those would-be homeowners out of the market. Concerned about rising loan delinquencies and foreclosures, Fannie Mae has begun requiring a 10 percent down payment for 30-year mortgages on such homes, plus a fee of one-half of 1 percent of the loan amount. Previously, people could put no money down and paid no fee. For those who cannot afford 10 percent, Fannie Mae has introduced a 20-year loan requiring a 5 percent down payment. However, monthly payments are higher. . . .