People with high credit now have to subsidize losers

[BigKobeFan]

So people with high credit pay an extra fee for home mortgage while the losers with poor credit score get a discount

https://www.google.com/amp/s/nypost.com/2023/04/16/how-the-us-is-subsidizing-high-risk-homebuyers-at-the-cost-of-those-with-good-credit/amp/

[Jasper]

Fannie Mae and Freddie Mac will enact changes to fees known as loan-level price adjustments (LLPAs) on May 1 that will affect mortgages originating at private banks nationwide, from Wells Fargo to JPMorgan Chase, effectively tweaking interest rates paid by the vast majority of homebuyers.

The result, according to industry pros: pricier monthly mortgage payments for most homebuyers — an ugly surprise for those who worked for years to build their credit, only to face higher costs than they expected as part of a housing affordability push by the US Federal Housing Finance Agency.

The poem to reason is that housing is becoming a big problem in USA. This does not mean a person with a bad credit score will be living in a home worth 500k... more like 50k.
But the high credit score individual that can afford a 500k will more than likely buy it

[BigKobeFan]

Fannie Mae and Freddie Mac will enact changes to fees known as loan-level price adjustments (LLPAs) on May 1 that will affect mortgages originating at private banks nationwide, from Wells Fargo to JPMorgan Chase, effectively tweaking interest rates paid by the vast majority of homebuyers.

The result, according to industry pros: pricier monthly mortgage payments for most homebuyers — an ugly surprise for those who worked for years to build their credit, only to face higher costs than they expected as part of a housing affordability push by the US Federal Housing Finance Agency.

The poem to reason is that housing is becoming a big problem in USA. This does not mean a person with a bad credit score will be living in a home worth 500k... more like 50k.
But the high credit score individual that can afford a 500k will more than likely buy it

Under the revised LLPA pricing structure, a home buyer with a 740 FICO credit score and a 15% to 20% down payment will face a 1% surcharge

So you are now paying for people's mistake and laziness...again, like student loans.

[Wardell Curry]

Now? Wealthy people in the USA already have to pay a disproportionate amount of taxes to the services they receive in comparison to everyone else and no amount of lying by politicians on television will ever change that. Yes, there are tax dodgers and dirty people/organizations, but generally speaking rich people pay far more in taxes than everyone else.

[BigKobeFan]

Now? Wealthy people in the USA already have to pay a disproportionate amount of taxes to the services they receive in comparison to everyone else and no amount of lying by politicians on television will ever change that. Yes, there are tax dodgers and dirty people/organizations, but generally speaking rich people pay far more in taxes than everyone else.

Thanks for making this point because theres no reason to "tax the rich"

[┌∩┐(﹒︠益﹒︡)┌∩┐]

Good.

[imdaman99]

Thanks for making this point because theres no reason to "tax the rich"

How about not get out of paying taxes with loopholes? It's 1 thing if poor people do it, it's another when filthy rich do.

[BigKobeFan]

How about not get out of paying taxes with loopholes? It's 1 thing if poor people do it, it's another when filthy rich do.

To take advantage of most loopholes, you gotta lose a lot of money first or you need to pay people to get a write off

[Jasper]

To take advantage of most loopholes, you gotta lose a lot of money first or you need to pay people to get a write off

expert on loop holes to screw the country that you say your so proud to support
pub's that do it the most / look at your Trumps

[BigKobeFan]

expert on loop holes to screw the country that you say your so proud to support
pub's that do it the most / look at your Trumps

Gave your mom a job so u can live in a basement at your old age

[Lakers Legend#32]

I don't want my money going to subsidize lowly paid jewelry store clerks.

[Axe]

I don't want my money going to subsidize lowly paid jewelry store clerks.
:milton

[JohnnySic]

Meh. We already subsidize them to a large extent. What's one more thing?

[Lakers Legend#32]

Meh. We already subsidize them to a large extent. What's one more thing?

Lowly paid jewelry store clerks need to pull themselves up by their bootstraps.