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Originally Posted by OMG!WTF!
Ok but this kid has already qualified for the loan even without the free government money. He can take his 20k and put 5% down and pay all of the interest from day one and somehow this is less scary? The government loan isn't adding any more risk. Why aren't you freaked out about people who currently put 20k of their parents money down on their first condo? This isn't creating new qualified buyers that are currently unqualified.
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Who said I wasn't concerned with the status quo?