strange.... it loaded now.
these are legal programs. yes, it is a loophole that has been exploited.
yes, it puts people in homes with no out of pocket. and the default rate is higher on these loans.
realtors argue that it inflates home values.... much like the 80/20 with all closing costs paid does.
however, i am a firm believer in personal responsibility. and do not judge those who want to buy with nothing down.....
i also believe that borrowers need to think long and hard about the deal. because you most likely will not have enough equity to pay realtor fees should you decide to sell.
Retired Lender