In January, Mike Rowland was so broke that he had to raid his retirement savings to move here from Boston.
A week ago, he and a couple of buddies bought a two-unit apartment building for nearly a million dollars. They had only a little cash to bring to the table but, with the federal government insuring the transaction, a large down payment was not necessary.
This article available online at:
http://www.theatlantic.com/business/archive/2009/11/with-fha-help-easy-loans-in-expensive-areas/30603/
