Misinformation Is Deadly

One of the problems in our industry today is an abundance of misinformation in the media.  A lender that I work with called me today.  The conversation began with it pi$$%$ me when I read this crap in the paper.  A quote from USA Today, "Anyone with credit below 620, which is subprime territory, will pay through the nose to get a mortgage."  He shot out an email to his data base  that stated THIS SIMPLY IS NOT TRUE.  There is no minimum score for USDA, VA, or FHA.  There is no minimum down payment for USDA or VA.  The down payment for FHA is 3%.  Interest on all goverment loans are as low as they have ever been.  He follows up with....THERE IS STILL 100% LOANS FOR BUYERS WITH LESS THAN PERFECT CREDIT.  CALL ME TODAY.  We have to challenge the market with correct information.