Lender to offer 5-year financing for distressed homes

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Econohomes, an Austin, Texas-based buyer and seller of distressed homes, says it’s launching a sister company to finance homes priced at less than $100,000. Visio Financial Services will initially provide five-year loans to borrowers in 35 states who are able to make 35 percent cash down payments. The company expects to expand to the rest of the country later this year. Source: prweb.com.