Biden to hike payments for good-credit homebuyers to subsidize high-risk mortgages

[Defilade]

Build Back Better!!

Biden to hike payments for good-credit homebuyers to subsidize high-risk mortgages

Homebuyers with good credit scores will soon encounter a costly surprise: a new federal rule forcing them to pay higher mortgage rates and fees to subsidize people with riskier credit ratings who are also in the market to buy houses.

www.washingtontimes.com

 

[Depick]

 

[dwa12479]

Glad I work so hard to maintain good credit and save a large down-payment for a house, just to subsidize one who doesn't. We are in bizzaro world for sure now.

 

[Saltwater60]

The article wouldn’t open for me so here it is again. Essentially if you have good credit you will pay a higher PMI premium than those with shitty credit and takes effect in May.
Again makes no sense but I never expect to have to pay PMI ever again in my life. These idiots that vote for Biden get what they deserve. I do have to say we should have democrat and republican rules where this shit would apply to you if you voted for a Republican.

Real estate expert shreds Biden rule punishing homebuyers with good credit: 'It's madness' | Fox Business

Madison Ventures+ managing director Mitch Roschelle unpacks the economic impact of a Biden administration plan to subsidize mortgage rates through good-credit buyers.

www.foxbusiness.com

 

[Deplorable Me]

So the kids who went to school for stupid shit, can't get jobs and had their loans forgiven can now take out mortgages they can default on so I can foot the bill?

 

[fresch]

So the kids who went to school for stupid shit, can't get jobs and had their loans forgiven can now take out mortgages they can default on so I can foot the bill?

Mmmm, yes!

 

[Bustedknees]

Only 2 more mortgage payments for me but this really pisses me off seeing I have kids who are house shopping and they have built strong credit ratings.

 

[Deplorable Me]

Mmmm, yes!

I'm tired of being the producer of free shit for ungrateful Biden voters.

 

[fresch]

20% down no pmi

 

[Deplorable Me]

It's like they're betting certain people will fail. To think, they'll only be able to buy all electric houses which will inherently cost more.

 

[Defilade]

Government needs to get the FUCK out of people's lives!

 

[Saltwater60]

20% down no pmi

I was not able to do that with either of my homes. I got lucky and the second house I bought right before shit went crazy so I refinanced and dropped PMI quickly.
My last house needed to be redone too to bottom and we were not sure if we’d ever move so that’s where all my money went to. I have good credit and it’s over an 810. By now I only have a mortgage and one car payment with a tiny bit left on my camper. I’m in good shape financially.

 

[Saltwater60]

It's like they're betting certain people will fail. To think, they'll only be able to buy all electric houses which will inherently cost more.

They do want people to fail because failing people vote for handouts and democrats.

 

[tirwin1]

Yet another example that we are living in a topsy turvy upside down world. Insanity has become normal.

 

[RedBreast21]

The 2008 housing financial crisis was brought to us by mortgages given to people that would otherwise not qualify for under old lending rules. It was set up to get the lower income folks into homes through political messaging of the 2008 campaign. When it collapsed, the banks were not capable at taken on the number of defaults. Later on this entire event was said to be caused by predatory lending practices of the banks. Again, political messaging. The banks since 2008 are now well able to seize control of default mortgages but not to sell them. Banks of recent years are some of the largest property owners now since restructuring internally to basically become landlords. The recent banking crisis sees small and regional bank being absorb by larger ones. Fed Now pay system is ready to be rolled out and now new lending practices that were once considered predatory are now being put back in place. But for what reason? One reason is 2024 democrat messaging. But it also serves the Uniparty elites and globalists in that the defaults will shift property ownership to the large central banks. That gives it the appearance of the Great Reset "..you will own nothing and be happy...". All by 2030. Makes perfect sense as the why Trump had to go. Four more years is a delay the couldn't accept after losing 4 years.