HUD is another government agency that could use a 100% defunding. How many great cities and towns were turned and are now turning into crime-ridden ghettos because of their actions.
Ground Hog loans
The idea of “little known” government programs- regardless of the merits or lack thereof of each program, where someone has to be be in the “know” in order to take advantage tells me the government is much too big and complex.
Anything available for a good government price on Lake Tahoe?
What's the catch?
Isn't the definition of insanity, doing the same thing over and over again, expecting a different result?
If a person can’t come up with $26k for a traditional loan or $4750 for a government (3%?) loan, chances are they aren’t going to be able to afford the payments on a house requiring those amounts.
Low/No down payments and loans exceeding the value of the house are what got us in this housing mess to begin with.
$100 down gets people in the door who can’t pay bills down the road. It can take years to get them out.
Time to foreclose on HUD.
The problem is that many of the available homes are located where decent folks wouldn’t feel (and maybe would not be) safe.
Do the loans allow you to pay in crack instead of cash?
Going around in circles. The government solving a mess it created.
$100 down?
Sounds like a used car sale.
BUT, are these properties with unsubstantiated titles? Suspect many are. MERS??
“Seems like we’ve been down this road before.”
Uh yeah...
Here’s Bush pushing home loans for totally unqualified minorities.
http://www.youtube.com/watch?v=MqR15H0gNBU
HUD homes have been around for a long time; when we lived in Hoboken we investigated.
The catch is that HUD properties are usually trashed. These are fixer-uppers - extremely so, in many cases. If they weren’t being sold for $100 down, they’d have to be demolished. Or, more likely, remain empty, abandoned eyesores.
Also, they tend to be in sketchy neighborhoods. If you’re an aspiring slumlord with a crew of illegal alien carpenters, or a brave, brave urban homsteader, HUD homes might be for you. :)