"Own For $0 Money Down!"
"It took nearly a decade, but "owning" a house for zero money down has finally come back."
Renting a house from the government is what you’re doing. The Feds have effectively nationalized the mortgage industry.
If I understand it correctly, about 75% of the time, the bank originates the mortgage and then sells it to Fannie/Freddie and receives an ongoing consideration for servicing the loan.
So when you stop paying who are you defaulting to? The bank or the government?
I thought you were joking. Can’t believe some development is offering a no money down option to buy. Just goes to show we learn nothing from history.