UGH, will we even make it thru the next two years
Seems like this nightmare will never end. Every day it’s something else.
/sarc
I guess Democrats who voted for these clowns agree and gladly will pay more.
Isn’t this how the old housing bubble in that blew in 2008 happened? You had loans subsidized and regulated through the government to make it easier for high risk debtors to get them?
Obama (pi$$ be upon him) accused the mortgage folks of red-lining and basically forced those folks to start making risky loans (CRA on steroids).
Could this be Ver 2.0 ?? or posibly reverse red-lining ...
Just when we think that the phanatics, phreaks, and phags in this administration are out of stupid ideas they open a new barrel ...
FJB. I’ll buy out of country before I buy here.
Punish the responsible to reward the irresponsible.
Just following the same playbook used for college financial aid.
Joe Biden’s idiocracy!
While it does feel redistributionist, the primary goal of this is to enable the federal government to keep the housing bubble from collapsing. It greatly expands the number of buyers by essentially rewarding risky loans backed by the government.
That should fix the train wreck housing market.
Does anyone know how they are doing this? I've seen a half dozen articles saying that they are doing it, but none tell the method or who gets the extra money from better borrowers.
Individuals with excellent credit scores typically do not opt to refinance their mortgages at elevated interest rates, which is one of the reasons their credit scores are high.
I only make purchases with cash on hand, and if I don’t have the cash, I refrain from buying until I can afford it.
How is this even possible?
Ditch McConnell’s fault.
This is obama.......won’t be satisfied ‘till the hood rats are living next door
Washington state recently decided, through its Insurance Commissioner, that insurance companies couldn’t consider credit scores to set rates, because people with higher scores are safer risks and get lower rates. Responsible folks get screwed again.
I wonder if the evening news will tell people that your reward for paying your bills on time is a higher rate.
It’s obvious that biden isn’t behind all this. There is a large crowd of radicals who are setting all this up, and he is signing whatever they shove in front of his nose.
This is liar loans all over again.
Remember no proof of income required back around 2006 & 2007? Then came the financial crash of 2008 caused by bad loans for houses. Get ready for another crash coming hard and fast!
Combined with higher interest rates, stuff like this gives me less reason to want to sell my house and move. It’s a nice one-story ranch style in a nice area and I’m over 50 so I’ll just stay put.