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

To: loantech who wrote (29366)	3/25/2005 10:04:39 AM
From: stockman_scott	Read Replies (1) \| Respond to of 110194

"Despite rising mortgage interest rates and slowing sales, California home prices comparing February 2004 to February 2005 continued their phenomenal rise." sfexaminer.com

To: loantech who wrote (29366)	3/25/2005 10:15:33 AM
From: MoneyPenny	Read Replies (4) \| Respond to of 110194

Yesterday, my hairdresser was approved for a 100% no money down mortgage on a vacation home. The sale price will be inflated to the bank (by the seller) so the closing costs can be included in the price of the mortgage. I consider this fraud and asked the person if he wasn't concerned. He said "that's the way it's done now"...then if you can't make payments you are not out any cash at all. He also it ups the basis of his home if he should sell, making his "profit" higher. I was very surprised. MP