Free Republic 3rd Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $68,580
80%  
Woo hoo!! After accruing the balance of the monthlies we're now over 80%!! Less than $17k to go!! Let's git 'er done!! Thank you all very much!!

Keyword: robthetreasury

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  • 20 Year Old Buys Home With $183,000 FHA Loan And Just 3.5% Down

    10/25/2009 10:51:43 AM PDT · by newbie2008 · 50 replies · 2,489+ views
    Denise Tejada bought a house last month at the age of 20, thanks in large part to a loan guaranteed by the Federal Housing Authority. This story offers a dramatic demonstration that, despite the housing bubble causing the worst economic downturn in generations, the ideology of home ownership is alive and well in the United States and still being supported by the government. Without question, Tejada's loan is toxic--to her and to the taxpayers who are backing the loan. Her house cost $155,000. Tejada's loan was apparently made on a micro-down payment of just 3.5%, the minimum down payment to...