Reply #28: You misunderstand me, Frodo [View All]

[DevilsAdvocate2]

I said if people can afford to make payments on a $200,000 home, they can afford to save up for a down payment. Not necessarily 20% ($40,000) down, but at least $5,000 - $10,000. Now, whether or not they CHOOSE to live within their means and save up some money is a different story entirely.

And Gasperc, why so angry? As Frodo said, the banks will only get a 1% origination fee. The rest goes to the FHA, which is a gov't agency.