Posted by
Defend America on Friday, November 20, 2009 6:37:33 PM
With F.H.A. Help, Easy Loans in Expensive Areas
Published: November 19, 2009
SAN FRANCISCO — In January, Mike Rowland was so broke that he had to raid his retirement savings to move here from Boston.
From left to right, Jordan Kurland, Mike Rowland and Michael Bedar, in
front of the building they bought in San Francisco for nearly a million
dollars, with help from the Federal Housing Administration.
A week ago, he and a couple
of buddies bought a two-unit apartment building for nearly a million
dollars. They had only a little cash to bring to the table but, with
the federal government insuring the transaction, a large down payment
was not necessary.
http://www.nytimes.com/2009/11/20/business/20limits.html?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell&_r=1&ref=todayspaper