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Biden rule will redistribute high-risk loan costs to homeowners with good credit
Fox News via Yahoo ^
| 08/19/23
| Michael Lee
Posted on 04/20/2023 6:30:17 PM PDT by Enlightened1
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"Biden to force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers"
To: Enlightened1
Every single day, we march...
2
posted on
04/20/2023 6:31:55 PM PDT
by
ProtectOurFreedom
(I don’t like to think before I say something...I want to be just as surprised as everyone else)
To: Enlightened1
Punish the innocent, reward the guilty.
It’s the Communist way.
3
posted on
04/20/2023 6:32:19 PM PDT
by
E. Pluribus Unum
(The worst thing about censorship is ████ █ ██████ ███████ ███ ██████ ██ ████████. FJB.)
To: ProtectOurFreedom
4
posted on
04/20/2023 6:33:15 PM PDT
by
RushIsMyTeddyBear
("Equity" = "All animal are equal. Some are more equal than others.")
To: Enlightened1
That’s mighty white of him.
5
posted on
04/20/2023 6:33:22 PM PDT
by
EvilCapitalist
(81 million votes my ass.)
To: ProtectOurFreedom
Communism should work....this time....right Commissar Brandon?
6
posted on
04/20/2023 6:33:30 PM PDT
by
Jane Long
(What we were told was a conspiracy theory in ‘20 is now fact. Land of the sheep, home of the knaves)
To: Enlightened1
Extra money to cover high risk mortgages? Riiiight. Or is this a slight of hand to recapture SVB funds?
Some may shrug if they were told $40/mo is to help the poor. But try telling them this is for SVB depositors and you’ll get what?
7
posted on
04/20/2023 6:34:59 PM PDT
by
griswold3
(Truth, Beauty and Goodness ; Quos Deus vult perdere, prius dementat)
To: Enlightened1
This isn't a "rule," it's a
scheme. Scam, as well.
8
posted on
04/20/2023 6:35:48 PM PDT
by
JennysCool
("It's easier to fool people than to convince them that they have been fooled." - Mark Twain)
Remember the Rats’ CRA?
Joseph Stolen is an idiot
9
posted on
04/20/2023 6:38:35 PM PDT
by
Gene Eric
(Don't be a statist!)
To: Enlightened1
Subsidize people who don’t manage their credit and punish people who do.
10
posted on
04/20/2023 6:46:35 PM PDT
by
MulberryDraw
(Stop trusting in man, who has but a breath in his nostrils. Of what accou"""nt is he?)
To: Enlightened1
This makes zero sense. This is what happens with rule by fiat.
To: Enlightened1
I pay cash. Leaves me in a much better position to negotiate price. I did mortgages twice. After that I vowed to never do that again. No car loans either.
12
posted on
04/20/2023 6:56:56 PM PDT
by
blackdog
((Z28.310) We're all Women now.)
To: Enlightened1
How the hell does he have the power to do this?
To: Vermont Lt
Anyone talk to congress about this?
14
posted on
04/20/2023 6:57:39 PM PDT
by
blackdog
((Z28.310) We're all Women now.)
To: Enlightened1
Looks, smells and sounds like reparations. Expect more of the same.
15
posted on
04/20/2023 6:57:48 PM PDT
by
rsobin
( )
To: MulberryDraw
“Subsidize people who don’t manage their credit and punish people who do.”
That describes EVERY government program under the sun. They ALL take from some people to give to other people. They are getting more and more audacious all the time, bankrupting the country.
This proposal sounds a lot like California charging well-to-do people more for their electricity than the less well off.
Communism is all around us.
16
posted on
04/20/2023 6:58:31 PM PDT
by
ProtectOurFreedom
(I don’t like to think before I say something...I want to be just as surprised as everyone else)
To: JennysCool
Agreed. It’s yet another version of the Community Reinvestment Act and yet again it’ll exacerbate mortgage foreclosures and yet again it’ll tank the economy and yet again the Dims will blame “predatory lenders”.
17
posted on
04/20/2023 6:59:42 PM PDT
by
Tell It Right
(1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
To: Enlightened1
Sounds like more derivatives for high risk borrowers.
18
posted on
04/20/2023 7:02:07 PM PDT
by
Retain Mike
( Sat Cong)
To: Enlightened1
How the hell does he have the power to do this?
To: Enlightened1
Even more disgusting, is using a score of 680 as a benchmark. A credit score of 680 isn’t bragworthy in the least. This would soak anyone that a bank would loan to under normal circumstances, not just “the rich”.
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