Assistance for First Time Homebuyers - 2004-03-25
Some Columbus businessmen told lawmakers in Washington today that certain first-time homebuyers should be able to purchase houses without a down payment.

Thomas Finnegan is president of the Huntington Mortgage Group of Columbus, Ohio. He says people who don't have enough money for a down payment still should be able to buy if they gave a good credit history and can afford the monthly mortgage.
Read the full story at Ohio News Network

FHA Mortgage Penalty Draws Flak - 2004-03-25
While the Bush administration touts its actions to help more people afford their own homes, it has quietly reaffirmed a policy that costs low-income home buyers hundreds of millions of dollars in more interest payments each year.

Under a 34-year-old policy, when such borrowers pay off their mortgages before the end of a month, they must continue to pay interest through the end of the month. By contrast, standard mortgages used by wealthier people don't require any interest payments after the loan is paid off.
Read the full story at Quicken