Quote From: mermaidmamaKaren, look for HUD (housing and urban development) repossesion homes or condos in your area. You can use a first time buyer program and in many cases will not have to pay money down. We bought our condo 8 years ago using this program and paid $900 down payment, we had to do some remodeling within 60 days of purchasing the condo but HUD reimbursed us for the remodel, appliances and everything. With the interest rate rising, you should be able to find repo's more easily, but you may need a broker to help you with the paper work. Do not pay for any of those so-called services that you find on the internet that will ask you for $50-100 for lists of repo's--you can find them for free. There are even real estate brokers that specialize in repossesion. I hope this helps you and good luck to you...
Go to the web site HUD; just like mentioned already, and then you will see all the programs available for first time buyers. Also, go to www.habitat.org/cd/local/ and learn about a program for low income families who can build their own home and buy it for half or less then half of the market value would be. Also, another option is the HMBI who manage numerous single-family homes across the country for the HUD, and other government and independent agencies. That web site is, www.hmbireo.com . Hopefully this will give you a good start on your dream.
Margaret Perez
