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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Punished for having good credit
Posted by:
Troofer
()
Date: May 01, 2023 09:30AM
https://abc7.com/joe-biden-mortgage-fees-policy-homeowners-first-time-buyer/13190960/
You can't make this up.
The changes are part of a Biden Administration rule intended to provide equitable access to homeownership. First-time homebuyers with high credit scores would pay more under this new rule.
Before May 1, if you have a credit score of 740 or higher, on a $500,000 loan, you will pay 0.25% fee, which is $1,250. After that date, you could pay as much as .375% - or $1,875 - on that same loan.
People with lower credit scores will pay a lower rate.
The new rule also makes it more expensive for borrowers who want to refinance.
There is a bill in Congress that would repeal this new policy but for now, it is set to go into effect on Monday.
....in other words: Be responsible. Keep your debt low. Maintain a higher credit score. And get fucked with additional fees so irresponsible people with low credit scores can be subsidized.
Welcome to the new "no new taxes" America.
You can't make this up.
The changes are part of a Biden Administration rule intended to provide equitable access to homeownership. First-time homebuyers with high credit scores would pay more under this new rule.
Before May 1, if you have a credit score of 740 or higher, on a $500,000 loan, you will pay 0.25% fee, which is $1,250. After that date, you could pay as much as .375% - or $1,875 - on that same loan.
People with lower credit scores will pay a lower rate.
The new rule also makes it more expensive for borrowers who want to refinance.
There is a bill in Congress that would repeal this new policy but for now, it is set to go into effect on Monday.
....in other words: Be responsible. Keep your debt low. Maintain a higher credit score. And get fucked with additional fees so irresponsible people with low credit scores can be subsidized.
Welcome to the new "no new taxes" America.
Re: Punished for having good credit
Posted by:
its everywhere man
()
Date: May 01, 2023 10:37AM
I was elected chairman of the board and had to pay everyone else 50 dollars....FJB
Re: Punished for having good credit
Posted by:
LJB
()
Date: May 01, 2023 12:53PM
I get punished for having good credit too. I went to social services to get a EBT card and they told me that since I make 98,000 dollars a year I was not allowed to have the free food. That really sucks, just because I have a job and all I can't get free food. That is so unfair!
Re: Punished for having good credit
Posted by:
Lifelong Democrat
()
Date: May 01, 2023 01:40PM
We have to keep our niggers voting for us. Pay up fuckers!!!!