March 24, 2000

"No Money Down" Course Helps People buy a Home Without Mortgaging Their Future

For many potential home-buyers in San Diego, finding quality, affordable housing in the currently inflated real estate market is a frustrating and demoralizing process. Many feel `priced-out' as home costs continue to climb with no apparent end in sight. However, there are alternatives that allow people to purchase affordable homes with little or no money down and a manageable monthly mortgage.

The College of Extended Studies (CES) at San Diego State University (SDSU) is offering a one-day seminar titled How to Purchase Government Foreclosures for "No Money Down." The course gives practical real estate advice and includes a tour of local foreclosure properties.

The course is designed to dispel common misconceptions about government foreclosed housing and provide students with methods of purchasing homes with no down payment. In addition, the course will also inform people how to qualify for good interest rates and low closing costs.

Other topics will include:

• how to find government foreclosures, from Fannie Mae, Ginnie Mae, Freddie Mac and HUD where there are no minimum bids,
• government foreclosures with special rates for first-time buyers and investors,
• evaluating a neighborhood and selecting good homes, townhouses and condominiums,
• what to look for to assure appreciation,
• determining property values, and
• making successful bids.

The course is taught by Marshall Reddick, director of real estate education and professor of business and economics at California State University at Los Angeles. Reddick purchases nearly 20 foreclosure homes each year and has helped thousands of people purchase their own real estate.

The course will be held on Saturday, April 1, from 9 a.m. to 5:30 p.m. at the SDSU Gateway Center located at 5250 Campanile Drive. The cost of enrollment is $58 per person or $88 per couple. The tour of local San Diego foreclousre properties is included in the cost of enrollment.

Founded more than 25 years ago, CES is dedicated to providing life-long learning opportunities to residents of San Diego, the surrounding communities, and world. CES offers instructional courses through general Extension Classes, Professional Development Seminars and Certificate Programs.

For more information regarding How to Purchase Government Foreclosures for "No Money Down," or for information on any course or program offered by CES, call (619) 594-5152.

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