Forget the doom and gloom, First Time Home Buyers can buy with FHA

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Oct 11, 2009
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Real Estate & Mortgage 1 – Foreclosure Meltdown Fraud & Scams Dec08 – First Time Home Buyers Part 1 (Excerpt) Forget the doom and gloom, First Time Home Buyers can buy with FHA Thanks to my very great friend Brett Fallon for taking the time to be here in studio today. Brett is one of America's finest financial advisors. And of course the infamous Dan Havey. Now we all love Dan Havey because he was instrumental in getting me into the mortgage industry about 14 years ago. Most importantly, Dan was instrumental in helping us put together the loan modification hotline and he is the author of “Real Estate’s Future”. So today we have a few things we want discussed in regard to the economy, what's happened, we’re wrapping up the year. You may have heard about this in the media, of course the media's job is to scare you. Well our job is to tell you the truth. So Brett you have some data and some information that you wanted to share Some of the things you hear in the media, you can’t escape, its pretty much doom and gloom, sky is falling, this is the next Great Depression. It's over for all of us and we should all just pack up and go. That kind of stuff is pervasive out there and creates fear and a lot of anxiety amongst people who are either investors, people who are looking to buy a house, looking to refinance a mortgage. People don’t realize there are certain tools that exist that we will talk about during the course of the show today. They should understand that some of the things that we discussed prior to today's broadcasts were interest rates. Interest rates are at historic lows. Money is cheaper right now than it has ever been. We know the Fed recently reduced the Fed Funds Rate and that is the rate that banks are lending money to one another at. Right now that rate is zero. Historically, that's never happened in the United States before. The Fed's idea is to help to unfreeze this credit market and we keep hearing all this ta
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