The 2008A bond issue is being priced today and tomorrow, so we should open for reservation on Monday February 11, 2008. The rates will not be determined until later this week. I will send another email out later this week stating the new rates. This bond issue is 50 million dollars and only 5 million will be for NON CAP loans but we do have the flexibility to do all CAP loans in this issue. I will warn you that the rate will not be very attractive due to the current market conditions.
If you are a first time homebuyer or know anyone who is this is a great chance to get help on your downpayment and closing costs. For more information on MHDC go to www.mhdc.com.
For comments or questions please contact Chris Scheer at cscheer@cornerstonestl.com or 314.223.9824.
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