Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » Joe Biden to penalize high credit score mortgages to subsidize low credit scores
  1. Results 1 to 30 of 47
  2. Page 1 of 2
  3. 1
  4. 2
  6. Last

Thread: Joe Biden to penalize high credit score mortgages to subsidize low credit scores

post 1681381383 04-23-2023, 08:26 PM
-
#1
  1. Azrairc
  2. TwinkMAXXing
  1. Azrairc
  2. TwinkMAXXing
  3. Join Date: Apr 2011
  4. Posts: 18,933
  5. Rep Power: 64988

Joe Biden to penalize high credit score mortgages to subsidize low credit scores

A Biden administration rule is set to take effect that will force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers.

Experts believe that borrowers with a credit score of about 680 would pay around $40 more per month on a $400,000 mortgage under rules from the Federal Housing Finance Agency that go into effect May 1, costs that will help subsidize people with lower credit ratings also looking for a mortgage, according to a Washington Times report Tuesday.

"The changes do not make sense. Penalizing borrowers with larger down payments and credit scores will not go over well," Ian Wright, a senior loan officer at Bay Equity Home Loans, told the Times. "It overcomplicates things for consumers during a process that can already feel overwhelming with the amount of paperwork, jargon, etc. Confusing the borrower is never a good thing."

https://www.foxnews.com/us/biden-rul...rs-good-credit
post 1681381933 04-23-2023, 08:33 PM
-
#2
  1. Lefticle
  2. Registered User
  1. Lefticle
  2. Registered User
  3. Join Date: Jan 2011
  4. Height: 6'1"
  5. Weight: 225 lbs
  6. Posts: 29,447
  7. Subscribers: 1
  8. Rep Power: 572057
Joe Biden is such a tool.
Always Neg Back Crew.
post 1681382113 04-23-2023, 08:36 PM
-
#3
  1. AccountinggBrah
  2. Pinochet Did No Wrong
  1. AccountinggBrah
  2. Pinochet Did No Wrong
  3. Join Date: Aug 2022
  4. Posts: 876
  5. Rep Power: 12579
Clown World

Going to be 2007 - 2008 all over again.
Pureblood Crew
Nationalist Crew
Fair Tax Crew
Invesco QQQ Crew
Liberalism is a plague.
post 1681382313 04-23-2023, 08:40 PM
-
#4
  1. mulletwarrior
  2. Registered User
  1. mulletwarrior
  2. Registered User
  3. Join Date: Nov 2013
  4. Age: 41
  5. Posts: 13,586
  6. Rep Power: 99233
What even is the point in trying anymore? Time to just ape and low inhib maxx
mo e
post 1681382513 04-23-2023, 08:43 PM
-
#5
  1. AverageKenneth
  2. ♞Cheeky Ken...t♞
  1. AverageKenneth
  2. ♞Cheeky Ken...t♞
  3. Join Date: Aug 2014
  4. Location: Bonobo's house
  5. Height: 6'0"
  6. Weight: 200 lbs
  7. Posts: 16,845
  8. Subscribers: 4
  9. Rep Power: 152253
-Rack up debt
-Live the life
-Go bankrupt
-Still get a better mortgage rate than the ****getts who thought they were playing the game properly

Das it Joe!
*Always Pick 2 Crew*
*Cursed by a dwarf Crew*
*Jesus will save me Crew*
*Made a mod red once crew(SRS)*
post 1681382553 04-23-2023, 08:44 PM
-
#6
  1. MattyMiscer
  2. Registered User
  1. MattyMiscer
  2. Registered User
  3. Join Date: Jan 2015
  4. Location: Virginia, United States
  5. Posts: 10,196
  6. Rep Power: 135556
The world seriously feels like this these days:

And relief washes over me in an awesome wave
post 1681382983 04-23-2023, 08:53 PM
-
#7
  1. ~Hades~
  2. True Patriot Crew
  1. ~Hades~
  2. True Patriot Crew
  3. Join Date: Dec 2007
  4. Posts: 26,187
  5. Rep Power: 695527
Originally Posted By mulletwarrior⏩
What even is the point in trying anymore? Time to just ape and low inhib maxx
They don’t want people to try. That’s the point. They want everyone to be losers and live off the govt
Royal Crew
Chiefs Crew
Festivus Cew
post 1681383313 04-23-2023, 08:59 PM
-
#8
  1. ElArteSuave
  2. User Registered
  1. ElArteSuave
  2. User Registered
  3. Join Date: Aug 2013
  4. Location: United States
  5. Posts: 1,272
  6. Rep Power: 3723
Originally Posted By ~Hades~⏩
They don’t want people to try. That’s the point. They want everyone to be losers and live off the govt
exactly! buncha twatts fr!
post 1681384113 04-23-2023, 09:12 PM
-
#9
  1. Postmort3m
  2. Chairman of the bored
  1. Postmort3m
  2. Chairman of the bored
  3. Join Date: Apr 2012
  4. Location: United States
  5. Posts: 32,467
  6. Rep Power: 539821
No brakes on the Biden buggy

post 1681384773 04-23-2023, 09:21 PM
-
#10
  1. Irezumi
  2. Graveyard of Empires
  1. Irezumi
  2. Graveyard of Empires
  3. Join Date: Jul 2007
  4. Location: Yorba Linda, California, United States
  5. Posts: 13,130
  6. Rep Power: 80291
Text book pandering to blacks and other minorities..why? He assumes we're all just a bunch of poor lazy victims who can't even obtain a good credit score. Funny how every white liberal suffers from the same white savior complex...
LE6920CA Magpul
DDM4 V7
Glock 19 Gen 3
post 1681385153 04-23-2023, 09:30 PM
-
#11
  1. Jasonw1178
  2. 5'3" 300lbs Fudge Rounds
  1. Jasonw1178
  2. 5'3" 300lbs Fudge Rounds
  3. Join Date: Dec 2012
  4. Posts: 44,104
  5. Rep Power: 271274
So reading about this and it only applies to federally backed mortgages fanny may freddie mack which means FHA mortgages, not conventional. They can't require banks to do this. Am I wrong?

You have good credit, why are you doing a FHA loan? It means you don't have the down payment or the right credit. It means you have to pay PMI. So sounds like Biden once again is trying to kill the working class to help the welfare class.
post 1681401123 04-24-2023, 07:22 AM
-
#12
  1. DanteEdmond
  2. Registered User
  1. DanteEdmond
  2. Registered User
  3. Join Date: Jun 2019
  4. Age: 56
  5. Posts: 6,521
  6. Rep Power: 29635
How many people use FHA loans? I'm not sure if this policy will have much effect in practice

But in principle - the idea sucks. People with bad credit usually acted irresponsibily, such as living beyond their means or failing to save up for catasphrophic emergencies (e.g. layoffs, medical issue). No need to reward them with subsidies. Libs always want to act like the disadvantaged are victims of society or life
post 1681401373 04-24-2023, 07:28 AM
-
#13
  1. ~Hades~
  2. True Patriot Crew
  1. ~Hades~
  2. True Patriot Crew
  3. Join Date: Dec 2007
  4. Posts: 26,187
  5. Rep Power: 695527
Originally Posted By DanteEdmond⏩
How many people use FHA loans? I'm not sure if this policy will have much effect in practice

But in principle - the idea sucks. People with bad credit usually acted irresponsibily, such as living beyond their means or failing to save up for catasphrophic emergencies (e.g. layoffs, medical issue). No need to reward them with subsidies. Libs always want to act like the disadvantaged are victims of society or life
A chitload of people have fha loans

I average 75 homes sold per year so I can tell you with direct experience

This will also penalize people who put down more than 15%

Libs dont want to help people up. They want to bring everyone else down to the lowest level. They do not want others to be successful. Only themselves.
Royal Crew
Chiefs Crew
Festivus Cew
post 1681401463 04-24-2023, 07:31 AM
-
#14
  1. Leonydus
  2. Registered User
  1. Leonydus
  2. Registered User
  3. Join Date: Sep 2007
  4. Location: North Carolina, United States
  5. Posts: 23,260
  6. Rep Power: 156188
welcome to jewmerica
post 1681401653 04-24-2023, 07:37 AM
-
#15
  1. OffwhiteBrah
  1. OffwhiteBrah
  3. Join Date: Apr 2015
  4. Location: Florida, United States
  5. Posts: 50,218
  6. Rep Power: 545472
This is a stupid rule and is the equivalent of rubbing dirt on an open wound that’s turning gangrenous.
post 1681401783 04-24-2023, 07:39 AM
-
#16
  1. Titansfan08
  2. Registered User
  1. Titansfan08
  2. Registered User
  3. Join Date: Mar 2010
  4. Location: Missouri, United States
  5. Age: 36
  6. Posts: 27,661
  7. Subscribers: 3
  8. Rep Power: 446495
Sure am loving Biden's America and fuking retard libs
post 1681402643 04-24-2023, 08:00 AM
-
#17
  1. notbadnotbrad
  1. notbadnotbrad
  3. Join Date: Jul 2012
  4. Posts: 39,818
  5. Subscribers: 3
  6. Rep Power: 346827
post 1681402833 04-24-2023, 08:04 AM
-
#18
  1. Condo41
  2. Registered User
  1. Condo41
  2. Registered User
  3. Join Date: Feb 2021
  4. Age: 56
  5. Posts: 13,651
  6. Rep Power: 80918
While true, it's like $40/yr for a 400K loan.
post 1681403003 04-24-2023, 08:07 AM
-
#19
  1. AncientYouth
  2. Registered User
  1. AncientYouth
  2. Registered User
  3. Join Date: Jul 2013
  4. Location: United Kingdom (Great Britain)
  5. Age: 62
  6. Posts: 22,213
  7. Rep Power: 65479
i am so disappointed in Murica a once great nation now a fckn laughing stock


and i know the UK has many of the same issues but not the next level of BS that is infecting so much of Murica
post 1681403053 04-24-2023, 08:08 AM
-
#20
  1. FinBra
  2. Registered User
  1. FinBra
  2. Registered User
  3. Join Date: Nov 2011
  4. Location: Florida, United States
  5. Age: 39
  6. Posts: 6,666
  7. Rep Power: 46532
Originally Posted By Condo41⏩
While true, it's like $40/yr for a 400K loan.
40$ a month big dawg. Not per year.
post 1681403133 04-24-2023, 08:10 AM
-
#21
  1. naich
  1. naich
  3. Join Date: Nov 2011
  4. Posts: 17,222
  5. Subscribers: 3
  6. Rep Power: 128871
Another day of trying to figure out if democrats are trying to help blacks but dont know how or if they are trying to harm them by offering these policies. The true racists wear blue ties.
**Florida Crew**
**Waiting for National Guard Bus Ride to Labor Camp Crew**
post 1681403153 04-24-2023, 08:10 AM
-
#22
  1. AncientYouth
  2. Registered User
  1. AncientYouth
  2. Registered User
  3. Join Date: Jul 2013
  4. Location: United Kingdom (Great Britain)
  5. Age: 62
  6. Posts: 22,213
  7. Rep Power: 65479
Originally Posted By naich⏩
Another day of trying to figure out if democrats are trying to help blacks but dont know how or if they are trying to harm them by offering these policies. The true racists wear blue ties.
they did start the KKK
post 1681403163 04-24-2023, 08:10 AM
-
#23
  1. lockdev
  1. lockdev
  3. Join Date: Nov 2012
  4. Posts: 15,303
  5. Rep Power: 134955
Originally Posted By Condo41⏩
While true, it's like $40/yr for a 400K loan.
It should be $0/year.

Punishing people for doing the right thing should never happen.

"There's something simply unamerican about this." - Joe Biden

Of course he said that about steroids and would never say it about something that actually makes sense.
Misc Entrepreneur Crew
post 1681403173 04-24-2023, 08:11 AM
-
#24
  1. DanteEdmond
  2. Registered User
  1. DanteEdmond
  2. Registered User
  3. Join Date: Jun 2019
  4. Age: 56
  5. Posts: 6,521
  6. Rep Power: 29635
Originally Posted By Condo41⏩
While true, it's like $40/yr for a 400K loan.
$500 / yr
$2,500 ovrer 5 years
5k over 10 years

At some point, that money can add up to something you'll think about and wonder what you would've done it
post 1681403183 04-24-2023, 08:12 AM
-
#25
  1. 78novacaine
  2. Registered User
  1. 78novacaine
  2. Registered User
  3. Join Date: Jan 2019
  4. Posts: 15,477
  5. Rep Power: 176552
Originally Posted By naich⏩
Another day of trying to figure out if democrats are trying to help blacks but dont know how or if they are trying to harm them by offering these policies. The true racists wear blue ties.
Spoiler!
It's the second thing.
Permabulk/bloatlord Crew
Tradie Crew
HTC
post 1681403203 04-24-2023, 08:12 AM
-
#26
  1. Kev1972
  2. Registered User
  1. Kev1972
  2. Registered User
  3. Join Date: Jun 2013
  4. Location: Big Arm, Montana, United States
  5. Posts: 49,924
  6. Rep Power: 287644
Originally Posted By FinBra⏩
40$ a month big dawg. Not per year.
$500 a year is like 2% of the average Americans take home pay.

Bend over plebs.
Motorcycle crew
Army veteran crew
One Meal a day crew
post 1681403283 04-24-2023, 08:14 AM
-
#27
  1. rollerball
  2. Banned
  1. rollerball
  2. Banned
  3. Join Date: Apr 2012
  4. Location: United States
  5. Posts: 38,872
  6. Rep Power: 214
Post deleted by user
post 1681403713 04-24-2023, 08:24 AM
-
#28
  1. MikeLowrrrey
  1. MikeLowrrrey
  3. Join Date: Jul 2018
  4. Age: 56
  5. Posts: 35,181
  6. Subscribers: 2
  7. Rep Power: 120998
NEET is more and more right with each passing day.
post 1681403993 04-24-2023, 08:28 AM
-
#29
  1. FinBra
  2. Registered User
  1. FinBra
  2. Registered User
  3. Join Date: Nov 2011
  4. Location: Florida, United States
  5. Age: 39
  6. Posts: 6,666
  7. Rep Power: 46532
Originally Posted By Kev1972⏩
$500 a year is like 2% of the average Americans take home pay.

Bend over plebs.
And its your 500 after taxes, so call it $750 of income. Lubing up RN
post 1681404233 04-24-2023, 08:32 AM
-
#30
  1. havoc00
  2. Former 40OZ King
  1. havoc00
  2. Former 40OZ King
  3. Join Date: Mar 2009
  4. Posts: 141,993
  5. Subscribers: 9
  6. Rep Power: 568514
Originally Posted By MikeLowrrrey⏩
NEET is more and more right with each passing day.
100%
  1. Page 1 of 2
  2. 1
  3. 2
  5. Last
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts