They have everyone's picture on file?
What could go wrong?
It’s 2008 all over again.
I’ll tell this story over a Pentagon clean-up crew guy that worked in my area back eight years ago.
The kid was smart but was constantly getting bad advice (from the community support folks, to high school counselors). The kid was talked into signing up and getting student loans of $15k to attend a commercial ‘fake’ skill college. Fifteen months into this, a state audit occurred, and the college fell apart in less than a week. What the kid discovered was that the courses completed meant nothing...the potential degree was worthless, and he owed $15k in student loans.
The system, from top to bottom is corrupted.
The last time “Feds look[ed] to increase home ownership” we had the junk mortgage crisis of 2008.
“Hey, I see you have student loans that you can’t pay off, huh?”
“Yeah, man, I have so much debt. I have trouble paying all my bills.”
“Would you like more debt?”
“What? Why would I want more debt?”
“To own a house. I could get you a mortgage. It’s more debt, but who cares?”
“What if I can’t pay it off?”
“Pfffgh! We’ll stick the taxpayers with it. Like with the student loans. You don’t actually have to pay for anything. It’s a communist society, right? Own nothing, be happy.”
Here is an excellent lesson for them if they have debt and cannot pay their outstanding debts if they take on more: NO MORE LOANS! Easy, no further study required, and they graduate with honors!!
Because when you’re knee deep in debt, they’re happy to help you be neck deep in debt.
“inflated”
A price that’s “inflated” means a price that will come down as time goes on. Those wanting something whose price is inflated need only to be patient until the price comes down.
HUD Mortgagee Letter 2021-13 spells out the changes specifically.
https://www.hud.gov/sites/dfiles/OCHCO/documents/2021-13hsgml.pdf
For outstanding student debt where the monthly payment on the credit report is $0, debt is now calculated at .5%. Was 1%.
I am assuming that’s a rhetorical question. Race identification is on every application.
By giving away our money, of course.
Force the Universities to use their TAX FREE ENDOWMENTS to pay off Student loan debt!!!
Force the Universities to use their TAX FREE ENDOWMENTS to pay off Student loan debt!!!
The last thing the Feds want is more home ownership, if anything, they want to control housing and decide where you will live.
“You will own nothing and like it.”