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Washington state governor Bob Ferguson just signed a bill to forgive debt. It's not for college loans. It's for mortgages.
Twitter ^ | April 24, 2025 | aniel Alman from Squirrel Hill @DanielAlmanPGH

Posted on 04/24/2025 4:37:16 PM PDT by grundle

Washington state governor Bob Ferguson just signed a bill to forgive debt.

It's not for college loans.

It's for mortgages.

https://king5.com/article/news/politics/state-politics/35-bills-signed-into-washington-law-olympia-bob-ferguson/281-55494909-ddd0-4725-ad51-a74bc6c18379


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1 posted on 04/24/2025 4:37:16 PM PDT by grundle
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To: grundle

Whoa!!!! Did he forgive them or transfer them to taxpayers a la Soetoros’ and Biden’s student loan forgiveness?


2 posted on 04/24/2025 4:40:31 PM PDT by Texas Eagle ("Throw me to the wolves and I'll return leading the pack"- Donald J. Trump)
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To: grundle

Just how does that work?


3 posted on 04/24/2025 4:43:26 PM PDT by BipolarBob (Never attribute malice to that which can be explained by incompetence.)
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To: grundle

He just shot past Inslee in stupidity.


4 posted on 04/24/2025 4:45:41 PM PDT by JZelle
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To: Texas Eagle

My daughter paid cash for her house in Spokane. She’s been bitching about property taxes here and now, no doubt, her taxes will go up to support these idiots.


5 posted on 04/24/2025 4:46:03 PM PDT by Veto! (Trump Is Superman)
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To: grundle

What did the mortgage holders have to say about it? THAT doesn’t make sense. B of A or Wells Fargo said, “Go ahead - we like that idea. We only made the loans for the fun of it anyway! Needed the practice. “


6 posted on 04/24/2025 4:46:22 PM PDT by Thank You Rush ( )
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To: grundle

I am not seeing that, I even searched for mortgage in the article and came up with nothing

can you give me the SB number ?


7 posted on 04/24/2025 4:52:06 PM PDT by algore
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To: grundle

Maybe my dad should go and get a mortgage?


8 posted on 04/24/2025 5:05:41 PM PDT by SkyDancer ( ~ Am Yisrael Chai ~)
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To: algore

“”I am not seeing that, I even searched for mortgage in the article and came up with nothing —can you give me the SB number?”

AGREED....I said the same thing and I guess I exited before posting...I went through the entire thing - page after page and didn’t come up with anything related to mortgage forgiveness! What a useless bunch of garbage WA taxpayers are paying their legislators for!!


9 posted on 04/24/2025 5:20:41 PM PDT by Thank You Rush ( )
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To: grundle

Democrats are stupid losers.


10 posted on 04/24/2025 5:22:45 PM PDT by popdonnelly (All the enormous crimes in history have been committed by governments.)
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To: grundle

I’m not seeing it, either..................


11 posted on 04/24/2025 5:23:11 PM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: algore; Thank You Rush

SSHB 1696

Second Substitute House Bill 1696 modifies the Covenant Homeownership Program by raising the area median income threshold for eligibility to 120%, authorizing full loan forgiveness under certain circumstances and modifying one of the membership positions on the oversight committee.


12 posted on 04/24/2025 5:24:21 PM PDT by LegendHasIt
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To: grundle

So by what authority can he forgive a private loan to whom the state is not a part of?


13 posted on 04/24/2025 5:28:05 PM PDT by Blood of Tyrants (Time to dump out the Treasury drawer and throw out all the junk that is wasting our money.)
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To: LegendHasIt

if you look into this you will find that this only applies to lawmakers who must show they have had to stay in olympia over 6 days per year for more than 6 years.

they must also donate 6% of the forgiven amount to the Inslee Climate Foundation


14 posted on 04/24/2025 5:29:41 PM PDT by algore
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To: grundle

Wait. What happen to Inslee?


15 posted on 04/24/2025 5:31:49 PM PDT by sauropod (Make sure Satan has to climb over a lot of Scripture to get to you. John MacArthur Ne supra crepidam)
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To: grundle
It's not the first mortgage, but for the second - closing cost and down payment loans offered by Washington state.

https://lawfilesext.leg.wa.gov/biennium/2025-26/Pdf/Bills/House%20Passed%20Legislature/1696-S2.PL.pdf?q=20250424172910

16 posted on 04/24/2025 5:35:02 PM PDT by fruser1
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To: Blood of Tyrants

THERE IS NO SUCH AUTHORITY.

THE BANKS WILL FIGHT BACK, AND THEY SHOULD DO SO.


17 posted on 04/24/2025 5:38:21 PM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: All
The Covenant Homeownership Program in Washington State provides financial assistance for down payments and closing costs to first-time homebuyers who have been impacted by historical housing discrimination. It aims to help eligible individuals, particularly those from marginalized racial and ethnic groups, achieve homeownership.
18 posted on 04/24/2025 5:46:14 PM PDT by LegendHasIt
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To: LegendHasIt

“”Covenant Homeownership Program””

And who knows what that program is? So it boils down to a certain TYPE mortgage? What a bunch of garbage language. Where do these people come from who write this stuff? Voters in WA know what “modifying one of the membership positions on the oversight committee” means? You can bet it’s a positive for someone in the legislature and a negative for the borrower whoever that is!

Thanks for digging it out...We would have seen that when we were reading but it didn’t mean anything - only the words HOMEOWNERSHIP and FORGIVENESS would have rung a bell...worded so it would be difficult to pick up!!!


19 posted on 04/24/2025 5:50:12 PM PDT by Thank You Rush ( )
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To: grundle

post is from clickbait bullshit on the interwebs ...

bill does NOT forgive mortgage debt in general, since those are private contracts that don’t involve the state, but affects only some of the loans the State itself makes ...here’s the actual FACTS:

SSHB 1696

Second Substitute House Bill 1696 modifies the Covenant Homeownership Program by raising the area median income threshold for eligibility to 120%, authorizing full loan forgiveness under certain circumstances and modifying one of the membership positions on the oversight committee.

and to clarify what a Covenant Homeownership Program loan is:

Covenant Homeownership Program is for zero percent loans from the Washington State secondary to the primary mortgage for first time home buyers who are not white and are “poor”

such loans are paid back to the State at the time of refi or sale of the dwelling, except with the new bill, under certain circumstances, the State loan doesn’t have to be paid back at all ...

the primary mortgage is unaffected by this bill, and no other mortgages of any kind outside the program are affected ...


20 posted on 04/24/2025 5:56:59 PM PDT by catnipman ((A Vote For The Lesser Of Two Evils Still Counts As A Vote For Evil))
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