Posted on 04/21/2023 8:13:28 AM PDT by wardamneagle
A new rule from the Biden administration will have good-credit home buyers paying more monthly to subsidize costs for high-risk buyers.
The changes, which will begin in May, have many experts worried about the impacts both on buyers and the economy.
(Excerpt) Read more at foxbusiness.com ...
And that quashes any dream of owning a house at my advanced age. As if I needed another reason as stupid as this.
This administration is the worst in history, and I thought Obama was bad, Biden’s make them look like super geniuses.
He’s rewarding his voters and punishing the other side’s. Whether that is madness or politics is left as an exercise for the reader - but too many nominal Republicans don’t realize that when they vote against mean Tweets this is what the kind of treatment they deserve to get.
Where the hell does he get the authority to do this?
Where the hell does he get the authority to do this?
Yesterday, by chance, I checked my three credit bureau scores:
832, 834, 837.
What I thought was interesting was that they all ‘offered’ ways to ‘increase’ my scores(s).
When we built our fist home (still in it) we had 25% equity and purchased points to lower our rate from 8.25% to 7%.
IT WAS NOT EASY!
I cannot believe being penalized for working/saving...glad we refinanced some time ago...
FJB!
“Where the hell does he get the authority to do this?”
Exactly my question.
Unless things have changed PMI is only required if you are going conventional and haven’t put down 20%... Once you have 80% LTV PMI is not required.
So I don’t agree with this nonsense, but if you don’t want to pay higher PMI, save up a bigger down payment.
YOu wouldn’t have needed to pay PMI at all.
PMI is required when you have less than 20% equity.
If you put down 25% you shouldn’t have paid any PMI.
“Consolidated pre-tax income of $1.3 billion, with a pre-tax profit margin of 17.5%
Consolidated revenues increased 3% to $7.3 billion
Home sales revenues increased 1% to $6.7 billion on 17,340 homes closed”
https://www.yahoo.com/now/d-r-horton-inc-america-113000173.html
they don’t hide it anymore because they know all presidential election from diaper Joe’s forward are fixed.
Yes and it grows by the day as does danger ahead alarm.
“high-risk buyers”
i.e. loyal Democratic voters
“Where the hell does he get the authority to do this?”
Probably a federal law obligating the entity to facilitate lower-income home ownership.
PMI is required when you have less than 20% equity.
If you put down 25% you shouldn’t have paid any PMI.
They change the rules and this article is the start.
Well, the people paying often paid far more for “social justice” if they went to college.
I am so glad we sold our old house (paid for) and just paid cash for our new property and small home. Everything is paid for. We pay off our credit cards every month. We never buy anything on credit. We figure if we don’t have the money in the bank to pay for a new car or a big ticket irem, we don’t need it.
I don't know where he gets it, but I can tell you where he doesn't have the authority - The United States Constitution.
In most new DC & NYC apartment buildings the amounts paid by the tenants for rent on similar units may vary by a factor of 10.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.