1. No payments until 2008.
2. Only $500 down payment.
3. Only $1 closing cost.
This is a good example of trying to keep home prices up. Unfortunately or fortunately, depends upon which side of the line one is on, home prices keep falling with few people buying.
2 comments:
These terms sure look familiar. Aha! Now I remember. Those are the same tactics employed by furniture outlets. I wonder when J6P (Joe Sixpack) will catch on that when you sell a home in much the same way a piece of cheapo furniture is sold, that it's just not worth the price. The name of the game for all parts of the REIC is to avoid dropping the price ... but if buyers stick to their guns, they can force the price drops to happen a bit sooner (i.e. sooner than catastrophe will make them do ANYWAY).
Sweet deals! Great for people who rent their TVs!
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