3% down, no min credit score - nothing changes!

nd all financed courtesy of you the taxpayer. http://www.nytimes.com/2010/03/07/realestate/07Mort.html?ref=realestate "In sharp contrast to all the mortgages out there with stiff underwriting guidelines, New York’s Low Interest Rate mortgages have no minimum credit score. Borrowers can also qualify for a Sonyma mortgage if their total monthly debt payments reach 45 percent of their monthly income... [more]

nd all financed courtesy of you the taxpayer. http://www.nytimes.com/2010/03/07/realestate/07Mort.html?ref=realestate "In sharp contrast to all the mortgages out there with stiff underwriting guidelines, New York’s Low Interest Rate mortgages have no minimum credit score. Borrowers can also qualify for a Sonyma mortgage if their total monthly debt payments reach 45 percent of their monthly income — and sometimes more. That’s about 5 percent higher than the amount allowed by conventional lenders, and higher than the threshold recommended by many financial counselors." "Still, Mr. Leocata maintains that borrowers default on these loans less frequently than those with conventional mortgages." HAHAHAHA - what a total joke. I'll be shorting these mortgages till kingdom come..... [less]