FIRST ON FOX – State treasurers and other top finance officials from 27 states on Monday urged President Biden to end what they said was his “unconscionable” policy of forcing people with good credit scores to subsidize mortgage loans of higher-risk borrowers, and warned Biden’s plan would be a “disaster.”
Biden’s plan was outlined just a few weeks ago by the Federal Housing Agency (FHFA) and is set to take effect today. The plan is aimed at helping lower-income borrowers afford their monthly mortgage payments – it would do so by forcing people with good credit scores to pay more each month for their mortgages, extra payments that would be credited to the loans of higher-risk borrowers.
The controversial policy has been attacked by both Republicans and Democrats, including President Obama’s former Federal Housing Administrator. On Monday, financial officers from 27 states weighed in and said it was clear the policy was a mistake even before it takes effect.
25 years before I could purchase my first home, I worked 3 jobs most of my life and yes started wrong with poor credit because of debt. I busted ass, finally got good scores and have kept them after 30 years hard work, purchase house again hard work and this MF POS President wants to reward poor scores. F him and any Liberal Demoncrap who is for this. You all are lazy POS’s and worthless. I killed myself worked my ass off for you lazy POSs to take advantage of it? Dont tell me about you being unable, I have no college degree, I came from poor family, I got nothing on the start – this generation SUCKS
New REVOLUTION coming !!!! Good Americans will take out the Democrat Party !!!!!
IMPEACH BIDEN & the Rest of DEMOCRATS !!!!!!
Impeach Biden !!! WAKE UP People Do it NOW !!!
This the same crap that started the Mortgage bubble that lead to the huge collapse! Giving people with sub-par credit mortgages. Everyone starts to upgrade to more expensive homes because there is a huge resale market. Next thing you know they people with bad credit cannot keep payments. The market collapses and everyone is under water. The government then bails out the banks leaving you with a devalued home and high mortgage. Then the economic collapse happens on top of it. Do these fools ever learn ???