Foreclosed house isn't off-limits - 2004-01-24
My partner and I are thinking of purchasing our first house. An acquaintance acquired a house from a bank that had foreclosed on it, acquiring it for half its value with no down payment.

No bank lends money unless it is confident of being repaid. Using the house to back a mortgage allows people to buy one who otherwise could not, albeit with the risk that they may fail to make their payments and, sadly, could lose their home.
Read the full story at San Jose Mercury News

Fed stays on sidelines, won't change rates - 2004-01-24
Wall Street is certain that the Federal Reserve will keep short-term interest rates untouched when the rate-setting committee convenes Jan. 27 and 28.

Observers believe it is likely to stay at 1 percent for months. "The Fed will remain on the sidelines until late 2004," predicts Doug Duncan, chief economist for the Mortgage Bankers Association.
Read the full story at Bankrate.com