They definitely are alive and well. I have a few escrows going right now and in two of them the buyers are coming in at 100% financing AND getting close to 3% credit for closing costs. I am not sure these would be classified as sub prime because in both cases the credit scores are over 700s. The homes were in not the greatest areas and both of the sellers understood the risk. In both cases I explained the risks to the sellers and they accepted the offers and are crossing fingers that the loans do not crash and burn. In each case we tried to bolster the sellers position by asking that the deposit convey to the seller as soon as contingencies are released. Then upon successful close the deposit will be credited back by the seller as well. Also we tried to accelerate the contingency period to 12 days. In one case we could and in one we could not. Both these sellers just want to get rid of the properties. We also had a closing recently of another 100% financed home. So yeah it is still happening…
