An article from The Wall Street Journal Online, reports that in their attempt to sell houses, builders are bringing back incentives such as mortgage rates that start low, help with down payments and zero out-of-pocket expenses. This weekend, the nation's largest builder by revenue, Lennar Corp., will start interest rates at 2.88% for the first year and 3.88% for the second, before a slightly higher rate locks "for life." While acknowledging things are tough, builders promise they are being responsible: To keep people out of houses they can't afford, they are scrutinizing income and credit scores and making sure loans don't reset with unbearable payments.
http://online.wsj.com/article/SB121150981381316483.html?mod=RealEstateMain_1
http://online.wsj.com/article/SB121150981381316483.html?mod=RealEstateMain_1
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