Your high credit and mortgage pays for others

[OutlawStar]

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

Just in case you wanted a house, you get to pay for others' poor financial history.

Mortgage industry specialists say homebuyers with credit scores of 680 or higher will pay, for example, about $40 per month more on a home loan of $400,000. Homebuyers who make down payments of 15% to 20% will get socked with the largest fees.

 

[popper]

brandon is so poor he has to bribe people to vote for him.

 

[Vaquero]

The American Dream is becoming a nightmare.

 

[no2gates]

Biden logic

 

[OutlawStar]

I imagine its part of lenders lobbying asking for money for programs so they get an extra $40 per homeowner, plus federal funding, and they can spend 80% of it on themselves (the banks) while citing 20% going toward people with low credit and otherwise cannot actually afford a house. Great.

 

[Vaquero]

We did this already.
Remember Fannie may and Freddie mac?

 

[Vaquero]

It didn't work.

 

[Byrd666]

But Mr. Potatoe Head was supposed to be a moderate Communist. (sarcasm)

I also don't remember getting any kind of vote in this. (sarcasm)

What a Crock of shit SAYING VERY LOUDLY.

 

[1911'S 4 Me]

It's the vegetable's handler's idea, the vegetable doesn't have sense enough to make any kind of decision.

 

[toddnjoyce]

Cash buyers don’t need a mortgage.

 

[OutlawStar]

Cash buyers don’t need a mortgage.

You said it: I'm putting as much money as I possibly can towards my mortgage and plan to have it paid off within 2 years unless life happens to me. Next house or property I buy will be a flat out cash deal so I never have to pay interest ever again. That shits for suckers!

 

[studenygreg]

Wow

Sent from my SM-G991U using Tapatalk

 

[ZX9RCAM]

Cash buyers don’t need a mortgage.

Paid cash for mine...

 

[Lonesome Dove]

Cash buyers don’t need a mortgage.

Or a credit card.

 

[no2gates]

Mine is paid off, but it's not fair to others.

 

[ZX9RCAM]

Or a credit card.

My credit card pays me money.

 

[Lonesome Dove]

My credit card pays me money.

Not enough to bother. Mine saves me money to invest where it pays me more.

 

[Tnhawk]

Biden logic

FJB!

I paid off my existing home loan 2 years early and put over 35% down on a new home last month, with the result of my credit score dropping aver 25 points.

 

[CavCop]

Equity, stealing from those that work hard, to reward those who make bad life choices. It’s the new American dream…

Oddly interest rates are so high, I can’t afford a new home. But my home is paid off. Next home I will do a 30 year mortgage and write off as much as I can on taxes vs spending that much cash to pay it off early vs investing and not enjoying things more.

 

[ZX9RCAM]

Not enough to bother. Mine saves me money to invest where it pays me more.

So, mine doesn't pay enough to bother, but yours saves you enough to invest?