Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
It shouldn't. That's just the corporation gouging you. What should happen is the poor pay less PERIOD.Why should MY bill go up at all to cover someone else?
Thats not the corporation that's Biden's mortgage planIt shouldn't. That's just the corporation gouging you. What should happen is the poor pay less PERIOD.
He had to negotiate with them. This was the compromise. Like Obamacare. We wanted single payer but the insurance companies got a seat at the table. They said, "pass a law everyone has to be insured".Thats not the corporation that's Biden's mortgage plan
It only applies to federally backed mortgage products there was no "negotiation"He had to negotiate with them. This was the compromise. Like Obamacare. We wanted single payer but the insurance companies got a seat at the table. They said, "pass a law everyone has to be insured".
I don't know all the details. Sounds like Joe is dealing with income inequality.It only applies to federally backed mortgage products there was no "negotiation"
www.pewresearch.org
I don't know all the details. Sounds like Joe is dealing with income inequality.
Barely 10 years past the end of the Great Recession in 2009, the U.S. economy is doing well on several fronts. The labor market is on a job-creating streak that has rung up more than 110 months straight of employment growth, a record for the post-World War II era. The unemployment rate in November 2019 was 3.5%, a level not seen since the 1960s. Gains on the jobs front are also reflected in household incomes, which have rebounded in recent years.
But not all economic indicators appear promising. Household incomes have grown only modestly in this century, and household wealth has not returned to its pre-recession level. Economic inequality, whether measured through the gaps in income or wealth between richer and poorer households, continues to widen.
1. Trends in income and wealth inequality
Barely 10 years past the end of the Great Recession in 2009, the U.S. economy is doing well on several fronts. The labor market is on a job-creating
Making people who have the same income and a higher credit score pay more than other people with a lower credit score is not addressing income inequality.
Under these rules if 2 people were making the exact same income and Person A had an 800 credit score he would pay a higher fee than Person B with a 600 credit score.
Yes it is. The richer people just keep getting richer and richer and the gap keeps widening. So we look for ways to shrink that gap. This is just one of them.
This is like Obamacare. Sure it's going to fuck over some middle class people but it's going to help poor people and the rich are going to have to pay a little more.
Maybe if you dumb middle class Republicans would stop defending these corporations at every turn. Who's the boss here them or us?
I know. It's still a scam. Stop defending it. Let's do away with credit scores altogether. If you want this car, the payment is this much. Same for everyone. The interest is this much. Same for everyone. And if you miss payments, your car may get repoed.You do realize a "rich " person with a shitty credit score will pay less than a "poorer " person with a good credit score don't you?
Besides there is no rule that says a person with a high credit score is "rich"
Risk matters if you are lending money.I know. It's still a scam. Stop defending it. Let's do away with credit scores altogether. If you want this car, the payment is this much. Same for everyone. The interest is this much. Same for everyone. And if you miss payments, your car may get repoed.
This credit score is probably fucking you and here you are defending the practice. As if you are rich enough to benefit from it. Stop it. Stop being a house slave. A boot licker.
Yes but it is being paid by the responsible to subsidize the irresponsible.I was watching a report on this. To note, it has nothing to do with interest rates but rather the fee's you pay up front. So what will happen is a one time few hundred dollar higher fee.
Yes but it is being paid by the responsible to subsidize the irresponsible.
That, my friend, is bullshit........even for Democrats.
He didn't negotiate with anyone its an executive orderHe had to negotiate with them. This was the compromise. Like Obamacare. We wanted single payer but the insurance companies got a seat at the table. They said, "pass a law everyone has to be insured".
And there it is. Fuck the middle class lets just make everyone poorYes it is. The richer people just keep getting richer and richer and the gap keeps widening. So we look for ways to shrink that gap. This is just one of them.
This is like Obamacare. Sure it's going to fuck over some middle class people but it's going to help poor people and the rich are going to have to pay a little more.
Maybe if you dumb middle class Republicans would stop defending these corporations at every turn. Who's the boss here them or us?
No one is forcing anyone to get a mortgage.Thats not the corporation that's Biden's mortgage plan
you didn't read the article. I did.And there it is. Fuck the middle class lets just make everyone poor
Fuck all that "greater good" BS. They are not paying the mortgage.
That "small bump" of $40.00 a month would have been the difference between me buying my 1st home (after I saved the 20% DP) or not buying it.
Home ownership is one thing folks will move close to the edge for knowing it will get easier as their financial situation improves. It's a risk they are willing to take. They don't need DC to put their finger on the scale.
Of course doing the right thing as far as paying your bills (credit rating) and saving (down payment) must be punished by the dems.....They can burn in hell.
My left wing source is saying your side is lying about this
The criticism might give the impression that, as a result of the change, people with good credit will actually pay higher fees than people with bad credit, but that’s not the case. Though the change reduced fees for some borrowers with worse credit, any borrower with a lower credit score still has to pay more for the same loan than a borrower with higher credit.
Why Republicans Are Upset About Mortgage Fees
The Mortgage Bankers Association says much of the mortgage fee freakout is inaccurate or outright misinformation.www.huffpost.com
“Republicans are just trying to play this because it’s always, to them, about playing off the rich against middle class and the poor and playing to race.”
“Higher-credit-score borrowers are not being charged more so that lower-credit-score borrowers can pay less,” Thompson said in part. “The updated fees, as was true of the prior fees, generally increase as credit scores decrease for any given level of down payment.”
Industry groups have found themselves in an awkward position. The Mortgage Bankers Association, for instance, complained earlier this year that the higher fees would raise costs for borrowers at a difficult time for a housing market. But the group has sought to correct the misleading right-wing narrative about the fees.
“We’ve spent the past week responding to misinformation that spread from the media, to social media, to Capitol Hill on what the pricing framework means for borrowers,” MBA spokesman Adam DeSanctis said in a short video statement on Tuesday. “Borrowers with higher credit scores will still pay less than those with a lower credit score and the same down payment.”
