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

I think you misspelled politicians.

 

By the way, I should have called out this BS last night, but I was focused on calling out your BS about irresponsibility being "civilized":

Numerous studies over the years have shown that conservatives give more to charity than Leftists.

I wish I could say I don't ****ing understand why the faux-altruistic Left has a problem helping those who are less fortunate than them, but I don't.

 

Democrats have a history of being stingy with their own money. To make them feel better about themselves they will push for legislation that forces people other than themselves to provide for the needy. They want the rich to pay their "fair share" but you never see the rich democrats actually paying more taxes than what is required. They love the loopholes built into the tax codes.

 

Why have a credit rating if it doesn't mean anything?

 

I agree. Credit ratings are mostly idiotic.

 

But it's not living beyond your means. Living beyond your means implies you can't afford it.

I'd use a different phrase if you're implying it's not a bad thing.

 

And that is precisely what our faux-altruistic friends on the Left don't understand when they endorse and promote personal irresponsibility and dependence.

Our social safety nets and charities aren't maintained by the irresponsible people who don't take responsibility for themselves and their own lives. We do everyone in this country a great disservice when we endorse and promote irresponsibility and dependence.

 

Ya why should borrowers be allowed to know any history towards irresponsible behavior?

How many social systems you wanna break before your fairy tale star trek utopia that you are hoping for comes crashing down?

 

If spending money you don’t have is not living beyond your means, but I don’t know what is

 

It's pretty damned stupid and self-defeating, too.

The last thing the Babeuvian Illiterati in the Biden Administration should be doing is making home ownership more expensive for anyone on top of what they've already done to make home ownership more expensive for everyone. With skyrocketing inflation and interest rates it's already hard enough to buy a home and keep up with a mortgage, particularly for young first-time home owners - why make it even more expensive?

This kind of idiocy has to be seen to be disbelieved. smh

 

Credit scores are a new concept and affected by arbitrary nonsense in many instances.

 

Give me all your money.

 

We should make home buying very easy for anyone, regardless if they can afford it or if they aren't good at paying their bills. What could go wrong? ~Banks 2007

 

But then you're saying nobody should ever take out a mortgage on their house. That they should just rent until they save up a few hundred grand to go pay cash for one. That's horrible advice.

Sorry, but it's incorrect to suggest people shouldn't borrow money. Again, using leverage effectively is how you get wealthy. I highly recommend it.

 

Ya know, I don't think our friends on the Left have learned a damned thing from the housing crash that occurred 15 years ago. Let's just keep repeating the mistakes we made in the past....because it makes us feel better about ourselves....

 

If you consider 35 +/- years around being 'new' then maybe you would be right.

The basic concept is if someone is responsible with their money and credit, and their chances of repaying what they borrow. They have expanded it into insurances and other things, which is a gray area for me, but I understand the purpose it serves (likelyhood of an accident)

 

Where did I say nobody should take out a loan? You’re seeing words that aren’t there.

 

It's said that the definition of insanity is repeating the same mistakes expecting different results. Here's proof that progressive democrats are insane.

 

How does giving people a lower interest rate crash the housing market?

 

I like this idea better:
https://www.fool.com/the-ascent/mor...mily-homes-heres-what-it-means-for-consumers/

This bill would punish corporate investors who buy up homes thus forcing people to become renters. It also drives up home prices to stupid levels causing more market crashes. Also, this is the first bill from California Democrats that I support so there is very possibly something stupid in it that I'm not aware of.

 

"live beyond your means" implies you can't afford it.

That expression is crystal clear in it's meaning.

 

How is any of this information "arbitrary"? Would you, as a lender want some gd information before you lend out your money to a borrower?

So what in this list, is arbitrary?
https://www.investopedia.com/ask/answers/05/creditscorecalculation.asp


And what security or information would you think a lender would want or have a right to know?

 

At some point you gotta learn to stop feeding trolls.

Just another terrible Biden policy.

 

See post 148

 

Do you understand risks? Banks aren't in the business of charity. The greater the risk, the higher the interest rate will be.