Met my first one today. He got a 100% loan (YES!they're still around)and when Fannie Mae asked for an additional $500 for the earnest money he balked. He told me he was cashless at this time. I said if you can't come up with an additional $500 earnest money.......how are you going to handle $700 payments for 360 months? He really didn't know what to say. I believe he is like thousands doing this.....getting the $8,000 tax credit,using it for payments for awhile and then just hope something comes along to help with their payments. TOTAL FRAUD IMO. OUT