I looked into the interstatemortgae.net and was directed to a page for rural homes. Then, I saw a link for down payment assistance and was directed to the city of Phoenix's plan for giving $15,000 to prospective buyers. No mention of buying forclosed homes for 1% of apraised value. It said 15 % of appraised value. Anyway, I tried to schedule an appointment with the Phoenix Urban league for the second step in their program. Since my husband didn't attend the homebuyer's class, he is not in the system, and I am. We cannot continue until he takes this class. To me, this is more red tape to prevent people from buying homes.

Also one quick note of clarification. These eligible homes are not all in low income areas. Just to get an idea check out www.homepath.com and look up your zip code. I think you may be pleasantly suprised. These are all foreclosed homes that are currently owned by Fannie Mae. Ryan Ingram- www.interstatemortgage.net

Hey thanks for the kind words Nascarfan. We are just trying to be a lighthouse in an industry that is very tainted. I am extremely blessed to be able to work side by side with my dad. I get to take him and mom in a motorhome for 7 day vacation. My guess is him and his grandson will be enjoying some good fishing! Hope everyone has great 4th of July. We will continue working with the State of Arizona to make this a viable option for folks to qualify. The new program officially launches July 1 so stay tuned to ABC15 as they will break new developments. I hope everyone has a great 4th of July. Ryan Ingram- CEO Interstate Mortgage

Nascarfan: EXACTLY! well said

This is just as bad as the banks lending money for houses that people could not pay for and they knew it. Same thing here, you have to make such a low income or have a ton of kids with a low income to qualify. What makes you think they can pay for a stripped out forclosed home that needs 50,000 in repairs. Chalk up another forclosure for the future. hey Ryan! hope your dad is doing well. tell him Hi for me. Hope mike is not mad at me anymore. If anyone is in the market for a house I would recomend Interstate mortgage, good bunch of people.

More of the hocus pocus from the Traitor at 1600 Pennsylvania Avenue. You know, the one gallivanting all over the world at taxpayers' expense. Empty suit, loser. And you thought GW Bush was bad. Obama took notes, copied all of his bad traits and added many more of his own.

well, I suppose that if a person has been foreclosed upon, then that a person doesn't have a job anymore or that person is working fewer hours for less pay or that person isn't making that minimum requirement for the program for it to help them. Duh.

This is another stupid program. You have to be near the poverty level to qualify for this. Look up the details. If you make any decent money at all fagettaboutit.

As an approved lender for this program my advice is don't throw the baby out with the bath water. There are several changes to the program that are making it more efficient, including that homes be sold 1% under value not 15%. Be patient as this a bureaucratic process and takes time to work out the kinks. The State of Arizona has a similar program to Phoenix that gives up to 22% interest free 2nd to homeowners that buy any foreclosure in the State of Arizona. You could get over $80K interest free for taking 8 hours out of your day. Not a bad hourly rate. Go to www.interstatemortgage.net too get the program overview and see if you qualify. Ryan Ingram, CEO Interstate Mortgage Service, Inc.

If the presence is stronger and there is neighborhood involvement, I do think it would make a difference. Better than the coyotes using them for drop houses and/or illegal renters.