Popular
Germany accuses China of laser targeting aircraft in...
A torpedoed US Navy ship escaped the Pacific...
More than 200 children found with high lead...
Russia launches record drone attack on Ukraine after...
Desperate Gaza doctors cram several babies into one...
Tariff Shock Spurs “Buy-the-Dip” Setups in Tesla and...
Juggernaut Closes $1,100,000 from Institutions and Accredited Investors
High Grade Cu-Au at Surface Delivers New Targets...
Strong Leach Recoveries and Low Impurities
Share Purchase Plan Offer Booklet
  • Home
HotInvestingPilots.com
  • Politics
  • World News
  • Stock
  • Investing
Politics

Biden Pushes Plan for Good Credit Borrowers to Subsidize High Risk Mortgages

by April 21, 2023
written by April 21, 2023

Communism is in full force in the Biden Administration.

The Washington Times reported yesterday on the Biden gang’s efforts to force borrowers with good credit scores to cover a portion of poor credit borrowers’ loans.

Homebuyers with good credit scores will soon encounter a costly surprise: a new federal rule forcing them to pay higher mortgage rates and fees to subsidize people with riskier credit ratings who are also in the market to buy houses.

The fee changes will go into effect May 1 as part of the Federal Housing Finance Agency’s push for affordable housing, and they will affect mortgages originating at private banks across the country. The federally backed home mortgage companies Fannie Mae and Freddie Mac will enact the loan-level price adjustments, or LLPAs.

Mortgage 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.

Newsmax reported on this as well and says that this couldn’t come at a worse time.

Mortgage lenders and real estate lenders are opposed to the new fees and say they will confuse and frustrate homebuyers, who will view them as penalties for building good credit.

They also say the additional costs could not come at a worse time, after a year in which the Federal Reserve has raised interest rates at the fastest pace since the 1980s, lifting mortgages above 6%.

At the same time Biden is increasing rates to curb the 40-year-high inflation, the price of housing is dropping at its fastest rate since 2012.

House prices suffered their biggest annual drop since 2012 as rising mortgage rates deterred would-be buyers from moving.

The median US property is now worth $400,528, down 3.3 percent from a year ago, according to data from real estate brokerage Redfin.

Boom towns like Boise, Idaho, and Austin, Texas – which saw values shoot up during the pandemic – underwent the steepest losses.

At the same time that rates are at their highest rates since 2008 and housing prices are falling the most in a decade, the Biden gang decides to take money from disciplined homeowners to give to the undisciplined.

This administration is a nightmare. 

The post Biden Pushes Plan for Good Credit Borrowers to Subsidize High Risk Mortgages appeared first on The Gateway Pundit.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Confirmed: New Twitter Files Drop Reveals Fauci Lied Under Oath – Took Over White House COVID Response Twitter Account
next post
HORROR: Woman Arrested After Fetus Found on Michigan Sidewalk

Related Articles

Early voting in Wisconsin slowed by label printing...

October 24, 2024

American creating deepfakes targeting Harris works with Russian...

October 24, 2024

A GOP operative accused a monastery of voter...

October 24, 2024

Tucker Carlson says father Trump will give ‘spanking’...

October 24, 2024

Trump’s exaggerated claim that Pennsylvania has 500,000 fracking...

October 24, 2024

Biden spurs controversy by saying ‘We’ve got to...

October 23, 2024

McDonald’s where Trump served fries hit with flurry...

October 23, 2024

In close race that could tip House, candidates...

October 23, 2024

As Democratic icons stump for Harris, GOP elders...

October 23, 2024

Past Trump advisers say he’s fascist. Trump says...

October 23, 2024

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • Germany accuses China of laser targeting aircraft in EU mission

    July 9, 2025
  • A torpedoed US Navy ship escaped the Pacific in reverse, using coconut logs. Its sunken bow has just been found

    July 9, 2025
  • More than 200 children found with high lead levels after kindergarten in China uses paint as food coloring, authorities say

    July 9, 2025
  • Russia launches record drone attack on Ukraine after Trump criticizes Putin

    July 9, 2025
  • Desperate Gaza doctors cram several babies into one incubator as fuel crisis reaches critical point

    July 9, 2025
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 hotinvestingpilots.com | All Rights Reserved

HotInvestingPilots.com
  • Politics
  • World News
  • Stock
  • Investing