A bank offered a young man I know a no down payment 110 percent loan on a fixer upper with interest only payment first two years. Never heard how much the interest rate was but am guessing in the 20's.
It's a disgrace what they're trying to do to young people who have no idea.
16 posted on 08/20/2007 10:15:50 AM PDT by Aquamarine
What was the after-improved value of the home? Might not be such a bad deal.
61 posted on 08/21/2007 3:20:29 PM PDT by RockinRight
(Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)