With F.H.A. Help, Easy Loans in Expensive Areas
Friday, Nov 20, 2009
With F.H.A. Help, Easy Loans in Expensive Areas
By DAVID STREITFELD | NY Times
SAN FRANCISCO — In January, Mike Rowland was so broke that he had to raid his retirement savings to move here from Boston.
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.
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