Help on the way for home buyers - 2004-01-20
The Bush administration on Monday proposed a "zero down payment" program that would permit an additional 150,000 people across the country to purchase houses each year.

The plan, however, still needs approval from Congress. And borrowers still need to qualify to buy the home and be required to attend a home-buying counseling program. Buyers participating in the Zero Down Payment program would pay slightly higher mortgage insurance premiums.
Read the full story at Rocky Mountain News

Elderly Investors Claim Ponzi Scheme Against Metropolitan Mortgage and Summit Securities - 2004-01-20
Owners of securities in Metropolitan Mortgage and Securities Company, Inc. and Summit Securities, Inc. launched a class action complaint today in federal court in Spokane seeking up to $300 million in damages.

Also named as defendants were Metropolitan Investment Securities Company, Inc., the brokerage firm that sold most of the securities, and Cantwell Paul Sandifur, Jr., the controlling shareholder of Metropolitan Mortgage and of the parent company of Summit Securities.
Read the full story at PR Newswire via Yahoo!