STARKE PULASKI BOARD OF REALTORS
Becky L. Pulver  Executive Officer
Mission Statement

The Starke Pulaski Board
of REALTORS® is a
diverse group of people
who derive an income
from the real estate
industry. The
organization promotes
competence and education
and strives to increase
professionalism. Its
purpose is to enhance its
members abilities to be
successful through
networking, supportive
services and we
enforcement of the
National Association of
REALTORS® Code of
Ethics for the protection
of its members and the
public we serve.
0035 East  250 North     Knox, Indiana  46534
Designed & Maintained by Becky L. Pulver
Disclaimer : The information contained in our website is believed to be reliable but is not guaranteed. We make
every effort to maintain this website to have current, accurate information. However, we cannot warrant the accuracy
of the information contained in our website. This includes, but is not limited to, our website and information
contained in websites that are linked to our information contained in website.
574-772-5300   phone     ~     574-772-4968   fax     ~     spbor1@csinet.net   e-mail
Daily Real Estate News  |  June 9, 2008
No-Downpayment Loans Still Out There

Despite banks’ reactions to the foreclosure crisis, it’s still possible for a
potential homeowner to buy with no money down.

Some options come from Fannie Mae and Freddie Mac and are aimed at
making homeownership possible for buyers with limited credit and savings,
including teachers, firefighters, and members of the military. Some of the loan
programs, which are available through cooperating lenders, even allow 105
percent financing to cover closing costs.

Freddie Mac says such loans have lower delinquency rates because borrowers
are required to complete homeownership education.

Earlier this year, Fannie Mae experimented with a policy that demanded a
minimum of 10 percent down in markets where home prices were declining.

In May, it modified the policy to allow buyers in declining markets to borrow
up to 97 percent of the purchase price with a conventional mortgage and meet
any other need with a second mortgage that that lenders are required to forgive
after five years of successful payments.

Source: Washington Post, David S. Hilzenrath (06/09/2008)
Quadrennial Code of Ethics Class

For Information
and Sign-up  
June 25, 2008 class

please click here