5/1/23.....Biden to hike payments for good-credit homebuyers to subsidize high-risk mortgages

[1srelluc]

It’s going to cost you $10 more a month. You’ll be alright

It isn't going to cost me shit.....My home and landholdings are long paid-off.....I got mine.

The ever increasing property taxes to pay for someone else's kid's education though......I had to fight the last assessment tooth-n-nail to get it lowered on my primary residence.

Blah, that's a different story for another day.

 

[Harpy Eagle]

This is a load of psycho babble

If you don't make payments on time you have a bad credit score

If you pay on time you have a high credit score

Money gets added on when you miss or are late on payments. Maybe pay your bills on time.

I have 1 credit card. I buy things with it 3 days before I get paid and then immediately after payment pay it off. My FICO score is 798

Stupid people think their credit card is anytime money, run up charges they can't pay back thus ruining their credit score

Yet it is still a huge amount of power we give these private companies that made up the credit score system. In our country today so much is tied into a credit score beyond just getting a house or a car loan. Insurance rates are impacted by it, whether you have to put a deposit to get utilities is impacted by it, even some employers look at your credit rating when deciding to hire you or not.

These companies literally know more about us than the Fed Govt and almost nobody seems to have any issues with it at all.

 

[Cellblock2429]

Seems like a class system. Unfair. I get it. We all play the same game. I try to keep my credit score low too. But something shady about this practice. Something I don't like about it.

Let me look....

Yup, I knew it



And so it doesn't surprise me why Republicans are arguing in defense of this. They serve the wealthy and corporations. This is just another example of it.

/----/ "I try to keep my credit score low too"
Why on earth, would you try to keep your credit score low? You realize that is a bad thing.

 

[Cellblock2429]

It’s going to cost you $10 more a month. You’ll be alright

/----/ You're either grossly misinformed or intentionally downplaying the bill. 30 year mortgage x 12 months = 360 payments x $60 = $21,600.

Biden Raises Costs for Homebuyers With Good Credit to Help ... - Newsweek​

5 days ago A new federal rule could raise the monthly mortgage payments of buyers with good credit scores by over $60 a month, while riskier borrowers will get more favorable terms because their fees will...

 

[Cellblock2429]

Seller financed deals are not affected by this mortgage tax.
And because bank financed lending thus reduces the market for houses, the guy selling his house has an extra incentive to do a seller financed mortgage, aka carrying the paper himself. Once the deal is set, the seller might even be able to sell the mortgage for cash.

Anther way is a "rent to own" deal, or even a real estate trade deal.

/----/ Like I said earlier, the real estate market will figure out a way around this commie rule.

 

[pknopp]

Yes, I know what you’ve been told to believe.

Facts are facts. You did nothing to dispute them.

 

[sealybobo]

IDK but a lot happened after he left office

50%. Half of all their mortgage purchases had to be subprime.

Bush deregulated the banks.

Post your evidence.

After years of financial deregulation accelerating under the Bush administration, banks lent subprime mortgages to more and more home buyers, causing a housing bubble. Many of these banks also invested in credit default swaps and derivatives that were essentially bets on the soundness of these loans.

 

[Rust_Cohle]

Yet it is still a huge amount of power we give these private companies that made up the credit score system. In our country today so much is tied into a credit score beyond just getting a house or a car loan. Insurance rates are impacted by it, whether you have to put a deposit to get utilities is impacted by it, even some employers look at your credit rating when deciding to hire you or not.

These companies literally know more about us than the Fed Govt and almost nobody seems to have any issues with it at all.

Welcome to corporatism

 

[sealybobo]

I did not try to“pin” NAFTA on clinton alone

But he did sign it it and AlGore had his famous debate with Ross Perot on the Larry King show defending NAFTA

Remember the “Giant sucking sound?”

Thats part of Clinton's legacy that you are trying to forget

True. Republicans got Democrats to go along with Free Trade and Ross Perot did warn us. This was one of the things that made him stand out and made him popular. You are right. I forget that part.

But I did admit and remember that it was us Democrats who Clinton let down. If Ross Perot stole votes from Clinton because of this issue it was us libs who jumped ship.

There were 4 times Clinton let us liberals down. I may not be able to remember all 4. Let me see if I can.

1. Welfare reform
2. Tough on crime (war on drugs)
3. Deregulated the media allowing 5 corporations to buy 95% of the media and thus control it.
4. Nafta

 

[sealybobo]

Credit scores are a Republican "hoax"?
Maybe if you made the effort to understand your credit score, you might not post such stupid shit.
Dumb ass.

It's a scam bro

 

[sealybobo]

/----/ You're either grossly misinformed or intentionally downplaying the bill. 30 year mortgage x 12 months = 360 payments x $60 = $21,600.

Biden Raises Costs for Homebuyers With Good Credit to Help ... - Newsweek​

5 days ago A new federal rule could raise the monthly mortgage payments of buyers with good credit scores by over $60 a month, while riskier borrowers will get more favorable terms because their fees will...

COULD raise them by over $60? COULD? Trust me broke ass. Your bill will only go up $10.

 

[Mac-7]

It's a scam bro

I would say clinton was a prime mover in opening the US market to china

Which id what prompted my comments on this thread

US companies were not guiltless but government policy drove them to outsource jobs from America

 

[Ralph Norton]

It's a scam bro

Do you know what an opinion piece is?
Do believe everything you read on the internet?
This guy claims he pays for everything in cash, including his house. How many people do you think are in a position to do that? Did you miss the part where he states "I understand that I speak from an extremely privileged position".
Finally, who the fuck is he?

 

[sealybobo]

I would say clinton was a prime mover in opening the US market to china

Which id what prompted my comments on this thread

US companies were not guiltless but government policy drove them to outsource jobs from America

To be honest, now? I'm not against free trade with the rest of the world. It was inevitable right?

BUT, like every other country, the USA needed to protect it's vital manufacturing industry. That was why our economy was doing so well. And why it struggled so much when we sent all those jobs overseas.

Like I said, Clinton put worker and environmental protections in NAFTA and Bush/Chaney removed them in the 2000's as they shipped 1 million of our best jobs overseas.

Remember the 2000's when all those high paying manufacturing jobs kept leaving our shores? Republicans blamed Unions but if you look at the 1990's you'll see For and GM were making record profits. They were paying their employees record profit sharing. So labor was getting too much. How did they fix that? Send all those jobs to China and Mexico.

AUTO manufacturing should have NEVER went overseas. Although maybe I would manufacture cars in Mexico because it's too expensive to make them here especially if you want to sell them to the rest of the world.

How about this. If you want to sell the car in America, it has to be made in America. Didn't we used to do this?

Late President George H.W. Bush leaves behind an extensive and long-lasting trade legacy, from NAFTA to initial deals with China, much of which has been under attack by President Donald Trump.

Throughout the 2016 election campaign, Trump condemned NAFTA as one of the worst trade deals in history and he has kept up that rhetoric since taking office.


Trump’s new deal, officially called the U.S.-Mexico-Canada Agreement, actually keeps most of the original components in place. But it symbolically puts Trump’s populist stamp on it by relying on trade-restrictive measures, especially in the auto sector, in a bid to force more production in the United States.

 

[sealybobo]

Do you know what an opinion piece is?
Do believe everything you read on the internet?
This guy claims he pays for everything in cash, including his house. How many people do you think are in a position to do that? Did you miss the part where he states "I understand that I speak from an extremely privileged position".
Finally, who the fuck is he?

Its a scam bro. So obvious. And of course a con like you defends it.

I don't even need to KNOW it. It doesn't pass the smell test.

 

[Toddsterpatriot]

After years of financial deregulation accelerating under the Bush administration, banks lent subprime mortgages to more and more home buyers, causing a housing bubble. Many of these banks also invested in credit default swaps and derivatives that were essentially bets on the soundness of these loans.

After years of financial deregulation accelerating under the Bush administration,

What deregulation? Forcing them to buy or write crappy mortgages isn't deregulation.

Many of these banks also invested in credit default swaps and derivatives that were essentially bets on the soundness of these loans.

Bets with, for the vast majority, other banks and financial professionals

 

[Rust_Cohle]

COULD raise them by over $60? COULD? Trust me broke ass. Your bill will only go up $10.

Why should MY bill go up at all to cover someone else?

 

[Mac-7]

To be honest, now? I'm not against free trade with the rest of the world. It was inevitable right?

BUT, like every other country, the USA needed to protect it's vital manufacturing industry. That was why our economy was doing so well. And why it struggled so much when we sent all those jobs overseas.

Like I said, Clinton put worker and environmental protections in NAFTA and Bush/Chaney removed them in the 2000's as they shipped 1 million of our best jobs overseas.

Remember the 2000's when all those high paying manufacturing jobs kept leaving our shores? Republicans blamed Unions but if you look at the 1990's you'll see For and GM were making record profits. They were paying their employees record profit sharing. So labor was getting too much. How did they fix that? Send all those jobs to China and Mexico.

AUTO manufacturing should have NEVER went overseas. Although maybe I would manufacture cars in Mexico because it's too expensive to make them here especially if you want to sell them to the rest of the world.

How about this. If you want to sell the car in America, it has to be made in America. Didn't we used to do this?

Late President George H.W. Bush leaves behind an extensive and long-lasting trade legacy, from NAFTA to initial deals with China, much of which has been under attack by President Donald Trump.

Throughout the 2016 election campaign, Trump condemned NAFTA as one of the worst trade deals in history and he has kept up that rhetoric since taking office.


Trump’s new deal, officially called the U.S.-Mexico-Canada Agreement, actually keeps most of the original components in place. But it symbolically puts Trump’s populist stamp on it by relying on trade-restrictive measures, especially in the auto sector, in a bid to force more production in the United States.

You have the story backwards

Yes American workers made high wages

And might still be except when clinton and repubs opened our market to cheap chinese products more expensive US made goods could not compete

Thats when US companies moved to china

 

[LAUGHatLEFTISTS]

Facts are facts. You did nothing to dispute them.

I watched the whole scenario. I know what happened. I’m not going to waste my time.

 

[pknopp]

I watched the whole scenario. I know what happened. I’m not going to waste my time.

You have nothing.