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Joined: Mar 2022
Posts: 449
Campfire Member
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OP
Campfire Member
Joined: Mar 2022
Posts: 449 |
https://www.zerohedge.com/personal-...homebuyers-subsidize-high-risk-mortgagesMortgage 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.
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Joined: Mar 2020
Posts: 2,692
Campfire Regular
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Campfire Regular
Joined: Mar 2020
Posts: 2,692 |
As a young person, that really grinds my gears.
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Joined: May 2005
Posts: 6,550
Campfire Tracker
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Campfire Tracker
Joined: May 2005
Posts: 6,550 |
Like Obamacare for real estate. Sux for all who work and pay their way.
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Joined: Mar 2006
Posts: 20,915 Likes: 1
Campfire Ranger
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Campfire Ranger
Joined: Mar 2006
Posts: 20,915 Likes: 1 |
Went to the credit union to conduct business. The associate informed me my credit score was less than optimum. Told him I had no use of a credit score as I don’t use credit. “Well sir, what if you need to buy a house?” Told him i had no credit when i bought my first home, now my second home is paid for 15 years early. Credit is for lenders, not for me.
“Neither a borrower nor a lender be. Do not forget, stay out of debt.”
"I never thought I'd live to see the day that a U.S. president would raise an army to invade his own country."
Robert E. Lee
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Joined: Dec 2003
Posts: 829
Campfire Regular
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Campfire Regular
Joined: Dec 2003
Posts: 829 |
where have we seen this before?
uninsured motorist coverage required by many states.
credit card interest is high to cover deadbeats.
no longer considered "FAIR" to allow discounts for good behavior like making payments...
mens medical insurance pays for baby care,
and women's insurance pays for prostate
we all pay for non payers and indigents.
and Lord Jesus paid for all our sins....and yours as well.
"Never attribute to malice, that which can be adequately explained by ignorance or misunderstanding."
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Joined: Nov 2008
Posts: 19,578 Likes: 8
Campfire Ranger
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Campfire Ranger
Joined: Nov 2008
Posts: 19,578 Likes: 8 |
Went to the credit union to conduct business. The associate informed me my credit score was less than optimum. Told him I had no use of a credit score as I don’t use credit. “Well sir, what if you need to buy a house?” Told him i had no credit when i bought my first home, now my second home is paid for 15 years early. Credit is for lenders, not for me.
“Neither a borrower nor a lender be. Do not forget, stay out of debt.” Did you tell him you sit down to pee?
MAGA
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Joined: Jun 2001
Posts: 4,241 Likes: 2
Campfire Tracker
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Campfire Tracker
Joined: Jun 2001
Posts: 4,241 Likes: 2 |
Penalize those who act responsibly. That has always been the DEM way.
You get out of life what you are willing to accept. If you ain't happy, do something about it!
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Joined: Dec 2009
Posts: 4,596
Campfire Tracker
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Campfire Tracker
Joined: Dec 2009
Posts: 4,596 |
Never take life to seriously, after all ,no one gets out of it alive.
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Joined: Dec 2006
Posts: 2,010
Campfire Regular
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Campfire Regular
Joined: Dec 2006
Posts: 2,010 |
As a young person, that really grinds my gears. As an older fellow, who is about to pay my only active mortgage off in about three weeks, I am beginning to care less and less about what you all do to each other.
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Joined: Oct 2010
Posts: 7,732 Likes: 8
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,732 Likes: 8 |
“Neither a borrower nor a lender be. Do not forget, stay out of debt.” This is very anti-semitic.
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Joined: Mar 2021
Posts: 2,447 Likes: 4
Campfire Regular
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Campfire Regular
Joined: Mar 2021
Posts: 2,447 Likes: 4 |
Voo-Doo Economics... 40+ yrs...
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Joined: Jun 2002
Posts: 131,821 Likes: 29
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,821 Likes: 29 |
If billionaires would otherwise lose for backing the wrong horse, those in power will change the rules so as to both protect them, and punish those who backed the right (smart) horse.
We saw this in the nickel market a year or two ago. Billionaire investors had heavily invested in nickel shorts, so when nickel started going through the roof, they froze the price to protect them, screwing over the people who had bet long on nickel.
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Joined: Mar 2020
Posts: 2,692
Campfire Regular
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Campfire Regular
Joined: Mar 2020
Posts: 2,692 |
As a young person, that really grinds my gears. As an older fellow, who is about to pay my only active mortgage off in about three weeks, I am beginning to care less and less about what you all do to each other. That general attitude of indifference is exactly why we are where we are. That being said, if I was retired and set up reasonably well, I'd have the exact same attitude.
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Joined: Aug 2005
Posts: 10,765
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2005
Posts: 10,765 |
9K and mine is paid for.........while I have the money to pay it off, I'm making more on it in my checking account than the interest % on the loan.
I do agree that Joe Biden Inflation has made things very difficult for new/young home owners.
Last edited by centershot; 04/19/23.
A true sportsman counts his achievements in proportion to the effort involved and fairness of the sport. - S. Pope
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Joined: Dec 2010
Posts: 3,734
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Campfire Tracker
Joined: Dec 2010
Posts: 3,734 |
Feel bad for my kids/grandkids, I never need to take out another home loan.
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Joined: May 2008
Posts: 1,903 Likes: 1
Campfire Regular
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Campfire Regular
Joined: May 2008
Posts: 1,903 Likes: 1 |
Another step closer to communism, trying to make everyone equal.
NRA Endowment Member
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Joined: May 2003
Posts: 13,398 Likes: 4
Campfire Outfitter
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Campfire Outfitter
Joined: May 2003
Posts: 13,398 Likes: 4 |
Another step closer to communism, trying to make everyone equal. Yeah, except SOME people are always more equal than others. That's the game. L.W.
"Always go straight forward, and if you meet the devil, cut him in two and go between the pieces." (William Sturgis, clipper ship captain, 1830s.)
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Joined: Sep 2003
Posts: 23,500 Likes: 10
Campfire Ranger
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Campfire Ranger
Joined: Sep 2003
Posts: 23,500 Likes: 10 |
Recipe for disaster if you ask me. People with lower credit scores and low down payment have no business buying a home in this environment.
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Joined: Nov 2011
Posts: 4,973 Likes: 9
Campfire Tracker
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Campfire Tracker
Joined: Nov 2011
Posts: 4,973 Likes: 9 |
Recipe for disaster if you ask me. People with lower credit scores and low down payment have no business buying a home in this environment. That is exactly what caused the financial collapse in 2008. Billy Klintoon decided everyone should own a home so lenders made lots of loans people didn’t have the income to service. Ray Charles could have seen it coming.
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Joined: Sep 2014
Posts: 21,869 Likes: 5
Campfire Ranger
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Campfire Ranger
Joined: Sep 2014
Posts: 21,869 Likes: 5 |
Just wait till it hits Social Security.
Average wage earning blue collars will have SS cut because they saved and
invested. People who earned much more, and pissed it away, will be riding the
gravy train.
Look at student grants.
What you have is weighed more heavily against you than what you earn.
Hide it in businesses, piss it away, your kids get$$$$.
Be responsible, save, invest, your kids get huge loan debt.
A guy I worked with had a kId in Penn State for for years and years.
Pretty much free. He was "smart" in how he was bad with money, and a
business that helped him stay poor.
Parents who say they have good kids..Usually don't!
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