There is always something new. This was new to me until today. When you hear about some new plan to “save” you money, do yourself a favor, and call me. I’ll be happy to investigate it for you and give you the straight scoop, from industry experts. Here’s the scoop on this latest idea.
- You get help with your down payment from this program (perhaps 10% of the value of the house)
- You pay a registration fee of 2.5% to participate
- When you sell one of three things happen
- If you made money, you pay back the intial amount + 35% of your profits
- If you made nothng, you only pay back exactly what you borrowed.
- If you lost money, you pay back the loan amount – 35% of the decrease in value
The banks are betting that most homes will follow the average of 4 to 6% growth each year over time and 9 times out of 10 they will make money on your appreciation. There are better ways to make money without giving it all back. Talk to me, I’ll show you how!