Tuesday, November 17, 2009

1/2 Price Homes for Techers!

The United States Federal Goverment has been giving half price mortgages to teachers, firefighters, nurses, and police. It is not a gimick!!!!
The idea is that the area will be better off for having such outstanding citizens live in it.
You initially apply for a first and second mortgage for the entire value of the home, but after 36 months the home value is reduced by 50% (the second mortgage or silent mortgage is dropped) and all payments made on the mortgage in the 36 months contribute to the debt.governement logo

While this may not be for everyone, it is a great way for you to buy a home and make some money. Plus, the fact that you are only paying a mortgage that is 50% of the cost means homes are affordable for all, and payments are very cheap. Click HERE to go to a link that will take you were you can find more information and contact a HUD representative for area listings and available homes.

Imagine buying a home for $150,000 and after 3 years you only owe $65,000. Things that make you go OooHHH!

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