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

To: Pogeu Mahone who wrote (128172)	6/10/2008 10:46:34 AM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

Mortgages With No Money Down Still Available Fannie, Freddie Programs Fly in Face of Foreclosures washingtonpost.com Despite the bursting of the housing bubble, it's still possible to buy homes with no money down. In fact, it's possible to borrow up to 105 percent of the purchase price, leaving the buyer with more debt than the house is worth. It might sound like a pitch from a late-night infomercial. But the offer comes from Freddie Mac and Fannie Mae, two government-chartered companies with potentially conflicting mandates to uphold prudent lending standards and make homeownership more attainable. Freddie Mac says its "HomePossible" mortgages can help buyers with limited credit or savings, including teachers, firefighters and members of the military.