I have always disliked seeing advertisements regarding home loans which are designed to target persons who may not be in a financial position to pay them back. We have all seen them they always start with 'No Money Down' and they imply an interest rate, but when everything is all said and done, the buyer doesn't get that interest rate. There should never be an instance when a buyer assumes they can buy, in most cases, the largest asset they will own without any monetary investment at all. It also is misleading when a potential client see's that and then they sit down with me and I explain they will need an earnest deposit, inspection fees, appraisal fee and credit application fee....
The FTC has finally stepped in and warned over 2o0 companies of their leading advertising campaigns.
It's about time.
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