There have been schemes with low payment records and after investigation it was found that farmers paid constantly and regularly but a good part of the water fees collected never reached the Central or Project Administration. .
The program will offer loans with low down payments and flexible payment options to the area's low- and moderate-income households.
Developers were offering attractive deals with low down payments to entice buyers.
As for the big banks, many of them said they continued to offer mortgages with low down payments.
Eying the profits made by credit-card companies, mortgage companies began selling an entirely new inventory of "mortgage products," with low down payments, ballooning rates, and prepayment penalties.
Problems at the Federal Housing Administration, which guarantees mortgages with low down payments, are becoming so acute that some experts warn the agency might need a federal bailout.
Another red flag: loans with low down payments are just a step on the path to riskier lending that will raise the specter of the subprime housing crisis.
Also, market-rate mortgages with low down payments will be available to qualified buyers through several banks, including Fleet and Summit, Mr. Fefferman added.
United Guaranty, a mortgage insurance company, said that insurance companies had "made great strides" in developing more flexible products so consumers have more ways to buy homes with low down payments.
