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Started By
Message
The war on those with good credit
Posted on 4/18/23 at 3:54 pm
Posted on 4/18/23 at 3:54 pm
Or maybe it should be called the dems sub-prime launch version 2.0.
https://hotair.com/jazz-shaw/2023/04/17/the-war-on-those-with-good-credit-n544318
quote:
Here’s a story that hasn’t drawn nearly enough attention yet. A new change being driven by the Biden administration’s Federal Housing Authority will cause new fees and increased interest rates for home mortgages. Starting on May 1st, Fannie Mae and Freddie Mac will offer discounted mortgage rates to prospective home buyers with “riskier credit backgrounds” (meaning people with poor credit ratings) to enable them to qualify for a mortgage. But that will generate more losses in the system and that money will have to be made up somehow. So people holding lower-cost mortgages because they have a good credit rating will be charged more, leading to their monthly mortgage payments going up. I suppose this is the latest front in the battle for “equity.” (NY Post)
https://hotair.com/jazz-shaw/2023/04/17/the-war-on-those-with-good-credit-n544318
21
Posted on 4/18/23 at 3:57 pm to Auburn1968
Those bastards hate the middle class who try to do everything right.
frick Democrats.
frick Democrats.
Posted on 4/18/23 at 3:58 pm to Auburn1968
I’ve literally never met a single person with bad credit but was a stand up individual in my life. Sure, great people have bad shite that happens which results in bad credit temporarily but they’re able to increase it but shitty people always have shitty credit in my experience. No good can come from letting shitty people obtain a mortgage because eventually the law of large numbers takes over and the majority of those will foreclose, resulting in further financial crisis for everyone.
This post was edited on 4/18/23 at 3:59 pm
Posted on 4/18/23 at 3:58 pm to Auburn1968
quote:
So people holding lower-cost mortgages because they have a good credit rating will be charged more, leading to their monthly mortgage payments going up.
Gonna have to explain this one lmao. I have an existing mortgage with a defined principal and interest payment. How does the bank propose to “charge me more” leading to a higher monthly payment?
Posted on 4/18/23 at 4:02 pm to Auburn1968
So glad I don’t owe or intend to borrow but this is typical “pay for the leeches” mentality…
Posted on 4/18/23 at 4:03 pm to JohnnyKilroy
860 Credit Score would have paid 6.5% last month.
420 Credit Score would have paid 8.5% last month.
Next month they will both pay 7.5%.
Numbers made up to show how it will be done.
420 Credit Score would have paid 8.5% last month.
Next month they will both pay 7.5%.
Numbers made up to show how it will be done.
Posted on 4/18/23 at 4:03 pm to JohnnyKilroy
quote:
Gonna have to explain this one lmao. I have an existing mortgage with a defined principal and interest payment. How does the bank propose to “charge me more” leading to a higher monthly payment?
Try, if you can, to look beyond the hand in front of your face.
Posted on 4/18/23 at 4:03 pm to SlapahoeTribe
So nothing?
Lol.
Lol.
Posted on 4/18/23 at 4:04 pm to Auburn1968
quote:
Starting on May 1st, Fannie Mae and Freddie Mac will offer discounted mortgage rates to prospective home buyers with “riskier credit backgrounds” (meaning people with poor credit ratings) to enable them to qualify for a mortgage.
History? We don' need no steenkin' history!
I mean, what's the worse that can happen, right?This post was edited on 4/18/23 at 4:06 pm
Posted on 4/18/23 at 4:05 pm to bird35
But that’s specifically NOT what I quoted said.
It clearly said HOLDERS of low interest loans were going to be hit with new charges that will increase their monthly payments.
It clearly said HOLDERS of low interest loans were going to be hit with new charges that will increase their monthly payments.
Posted on 4/18/23 at 4:06 pm to Auburn1968
quote:
So people holding lower-cost mortgages because they have a good credit rating will be charged more, leading to their monthly mortgage payments going up.
How are people already holding a lower-cost mortgage going to be charged more on a fixed rate mortgage they already have?
Posted on 4/18/23 at 4:07 pm to JohnnyKilroy
Refinanced Dec 2020 @ 1.75%. With today's interest rates, it's almost free money.
Posted on 4/18/23 at 4:08 pm to TDsngumbo
quote:
No good can come from letting shitty people obtain a mortgage
Not true. It's great for my business.
Posted on 4/18/23 at 4:08 pm to JohnnyKilroy
quote:
Gonna have to explain this one lmao. I have an existing mortgage with a defined principal and interest payment. How does the bank propose to “charge me more” leading to a higher monthly payment?
Yeah, I am with you.
A responsible person already paying an existing fixed mortgage will not be impacted.
The rest is fear propaganda, because it is just a possible prediction with no actual evidence it will occur.
Posted on 4/18/23 at 4:08 pm to Green Chili Tiger
quote:
How are people already holding a lower-cost mortgage going to be charged more on a fixed rate mortgage they already have?
Bro these people sucked Sydney Powell’s dick for months they will literally believe anything
Posted on 4/18/23 at 4:08 pm to JohnnyKilroy
quote:
It clearly said HOLDERS of low interest loans were going to be hit with new charges that will increase their monthly payments.
They can't do that
Posted on 4/18/23 at 4:09 pm to JohnnyKilroy
Where did you read that they intend to change existing mortgages in that report? I wouldn't put it past the slime-balls, but that's not what the report said.
Posted on 4/18/23 at 4:10 pm to Auburn1968
Did you read your own link?
quote:
So people holding lower-cost mortgages because they have a good credit rating will be charged more, leading to their monthly mortgage payments going up.
Posted on 4/18/23 at 4:11 pm to Auburn1968
Seems like we've seen this movie before.
Posted on 4/18/23 at 4:11 pm to stout
quote:
They can't do that
ssshhh, let them believe
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