Zero Down Payment Marketing

Marketing 411

Now we’ve seen some down and dirty marketing before but this may be the most cost effective. How much time and money could this person have spent to create this sign? Not only that but the fact that the person placed this sign on a random corner in the Berryessa region of San Jose seemed curious to us.  We had enough curiosity to call the number to see what they are up to. Was this some foreclosure purchase scam?

We called the number and listened to the recorded message that went on for longer than the sign probably took to create. The Realtor stated that this was a Home Buyers Awareness Hotline and a Consumer Awareness Hotline. He mentioned that perspective homebuyers could buy homes in the $200,000 – 500,000 range with zero down payment, and that they did not need a large down payment.

Of course, he didn’t go in specifics but buyers can use Homepath to purchase a home where a borrower can buy a home for zero down– using a Fannie Mae loan– if the home is bank-owned, and owned by Fannie Mae. We see some issues with this loan program, like the fact that Homepath requires no appraisal.

That Homepath deal is for another post but the recording says that this Realtor is service oriented.  We learned early on not to judge a book by its cover but we just not sure how much trust we would instill in a person or service whose image can be seen on a dusty piece of cardboard.

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Filed under California, down payment assistance, Foreclosure, Mortgages, San Jose

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