One of the key things that holds homebuyers and investors back in terms of jumping into foreclosure investing is the impression that you need a substantial initial commitment - that is, that you need to put down a large down payment. This is not always the case. There are several ways to get into a home No Money Down, and there are also several ways to mitigate the cost of the down payment through creative financing.

The fact is that someone with no cash at all, and even a bad credit history, can still invest in foreclosures.

Have you been making offers on home with little result? Are your offers not getting accepted?

This can be especially bewildering if you learn later that the home sold for LESS than what you were willing to pay.

The bouyant market of five years ago taught many home-buyers to come in at more than the offered price. This would pre-empt a bidding war and entice the seller into accepting the offer speedily.

Sometimes, though, the highest bidder does not get the prize.

Long-term interest rates slid a little this week, but confined in a tight, 30-day range: the 10-year T-note between 3.5 percent and 3.28 percent, and mortgages close to 5.25 percent.

The media are now giving every possible positive spin to new data, which are in reality still ambiguous: Ever-so-slight improvements look more like floors than durable uptrends. Retail sales did pick up 1.1 percent in August, excluding "Cash for Clunkers," and industrial production rose 0.8 percent, that gain bloated by "Clunkers" and still 10.7 percent below last year.

First-time home-buyers across America have until November 30 to benefit from the Federal Government's tax credit that can add up to as much as $8,000 and, in some cases, can be used for the down payment on a home.

But for New Yorkers the news are even better, thanks to Mayor Bloomberg's "New Housing Marketplace Plan". As part of this plan the New York City HPD (Housing Preservation and Development agency) has created a special program that provides qualified home-buyers with up to 6% of a home's price toward the down payment or closing costs.

"Getting a mortgage has become increasingly challenging in the new economy. One recent survey showed that 67% of those who applied for a mortgage found it more difficult. Although banks now may have stricter lending rules, it is still possible to qualify for a mortgage. Here are a few steps that may make it easier.

"DETERMINE HOW MUCH YOUR CAN AFFORD