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GoBallsDeep
Fullerton, OC, CA
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Good Credit - YOU get to pay more. Setting the record straight
Apr 24 2023 08:48PM more by GoBallsDeep
Tags: Current Events

"It's just a proposal and it will never pass. It was stupid for the Democrats for even suggesting it."

This is apparently NOT just a proposal.
This is another rule being put into effect by a group of unelected bureaucrats that is completely and totally fucking insane........as I said, here we go again. Pardon me while I trash my credit so I can get a better mortgage rate. Un-fucking-believable.


"CHICAGO (NewsNation) As part of the Federal Housing Finance Agency's push for affordable housing, homebuyers with good credit will soon have to pay higher mortgage rates and fees to subsidize people with riskier credit ratings, according to a report by The Washington Times.

A new federal rule enforced by the Biden administration will make it so that people looking to buy a home with a credit score of 680 or higher will have to pay about $40 per month more than people with worse credit when taking out a home loan of $400,000, the report said.

The new rule, which goes into effect on May 1, will affect mortgages from private banks across the nation. According to The Washington Times, Fannie Mae and Freddie Mac, federally-backed home mortgage companies, will establish the loan-level price adjustments (LLPAs)."



      
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InsearchofStarfish
Santa Ana, OC, CA
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Apr 24 2023 09:04PM     link to this

it's crazy shit

and this...another one NOT on the GAIN, but just the value...these are the little things that open the door

The new tax would apply to the entirety of the sale value, not solely the amount in excess of the $5 million and $10 million thresholds, and regardless of whether the property is sold at a gain or a loss. The thresholds would be adjusted each year based on inflation. The tax would apply to property sales occurring on or after April 1, 2023.



GoBallsDeep
Fullerton, OC, CA
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Apr 24 2023 09:12PM     link to this

It would be okay if a few Progs on here would break with their fraternal order and just say...

WTF is wrong with these funding idiots

Seriously, you cannot defend this shit after what we went thru just 15 years ago.
GoBallsDeep
Fullerton, OC, CA
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Apr 24 2023 09:13PM     link to this

* fucking idiots
InsearchofStarfish
Santa Ana, OC, CA
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Apr 24 2023 09:27PM     link to this

i agree. NOBODY can like everything coming out of the biden admin. it's OK to disagree

it's the same on the other side of things


some shit is just bad.


this was an LA thing. up in SF, they are proposing a vacant property tax that doubles every year...maybe to the point of taking the property





GoBallsDeep
Fullerton, OC, CA
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Apr 24 2023 09:32PM     link to this

Don't forget the new LA property transfer tax
Brad Pitt sold his home just days before it went into effect and saved over $2 million
Bastard billionaire biatch!
He needs to pay his fair share!
InsearchofStarfish
Santa Ana, OC, CA
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Apr 24 2023 09:43PM     link to this

it's funny how that works btw


i did kinda like brad...till he did his little academy speech.


will still watch him though...if it hits netflix or something


InsearchofStarfish
Santa Ana, OC, CA
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Apr 24 2023 09:44PM     link to this

i think i ref'd the transfer tax above

GoBallsDeep
Fullerton, OC, CA
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Apr 25 2023 04:32PM     link to this

Note to self
MA wrong......again
His error count seems statistically outside the thirdth standard deviation
Apparently, he's a Black Swan event
GoBallsDeep
Fullerton, OC, CA
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Apr 25 2023 04:35PM     link to this

This kinda shit is exactly why two-thirds of Americans do not want another
Trump v. Biden election
Even a majority of Dems don't want Biden to run again
Same with Trump and the Reps

We live in a Twilight Zone episode
Marrisa_G
San Diego, CA
OC, CA Today!
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Apr 25 2023 04:42PM     link to this

Will we see the rise of an "independent" candidate, like Ross Perot? It seems like the political atmosphere is ripe for it.

Frankly, I think that is exactly what we need, to send a message to the Democrats and Republicans alike that we as a society are tired of their collective bullshit and partisan politics.
jazz51
Laguna Hills/Woods, OC, CA
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since Sep 24 2008

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Apr 25 2023 05:03PM     link to this

Time to take Joe's executive order pen away.

And time to clean house of all the Federal agencies that make rules and regulations. Those folks are not elected and seem to have not accountability.

Trump didn't realize just how wide and deep that damn swamp is.
Hey1
LA, CA
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since Jun 26 2019

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Apr 25 2023 05:56PM     link to this

Remember when constant whining used to be considered effeminate? Those were the days.
RicoSuave21
LA, CA
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since Jun 26 2022

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Apr 25 2023 05:59PM     link to this

^I seem to remember you whining plenty when Trump was in office.
remo_williams
Irvine, OC, CA
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Apr 25 2023 08:59PM     link to this

Marissa G has a good point.

Perot, 19 percent - un frigging beliveable.

Didn't get any electoral votes, but that wasn't what it was about.

Peeled enough away to tip the scales a different direction.

Will history repeat itself - I dunno, kinda doubt it, a 3rd option would probably need to start noise now.
GoBallsDeep
Fullerton, OC, CA
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Apr 25 2023 09:14PM     link to this

It's really up to these two broke-ass parties
Both are currently controlled by their fringe wings
All we can really hope for is a medical intervention
Trump has a heart attack and Biden a stroke

Clean house and make these shit parties bring up some new blood
Mr.Horndog
City of San Diego, San Diego, CA
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Apr 25 2023 10:41PM     link to this

Fuck that new rule.

@jazz51 - "And time to clean house of all the Federal agencies that make rules and regulations." Do you not realize how incredibly ignorant your statement is? You live in a misinformation bubble and don't realize how rules and regulations keep your ass safe.
GoBallsDeep
Fullerton, OC, CA
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Apr 26 2023 07:48PM     link to this

"You live in a misinformation bubble and don't realize how rules and regulations keep your ass safe."

Don't like this rule but cheering for more rules?
Corndog, the one-man dysfunctional mentally aberrant paradox
Congrats!
Mr.Horndog
City of San Diego, San Diego, CA
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Apr 26 2023 08:13PM     link to this

What does this rule have to do with safety?
InsearchofStarfish
Santa Ana, OC, CA
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Apr 26 2023 09:38PM     link to this

yep...they just CHEER for the side and don't even know what the shit's about


probably cheering the IRS to look at every single transaction over 600bucks also...or will cheer the new US FED COIN and all the control they will posses with that


Knoxville7
Redlands, Inland Empire, CA
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Apr 27 2023 07:08AM     link to this

Ok going to chime in here rules do not people safe, rules and regulations cause poverty, how does having more people poor doesn't help people!
yellowB2
Mission Viejo, OC, CA
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Apr 27 2023 08:31AM     link to this

I was just thinking the other day...

How come the Feds don't tax home loans? You get a 5% home loan and the bank collects 5%! All it takes is one crafty politician in Washington to say, "Hey! If people will pay 5%, they can certainly pay a 1% tax, let's just make it 6% and keep 20% of the interest while doing nothing!"

It looks like it's starting now.
Pjforfun
Austin, TX
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Apr 27 2023 09:34AM     link to this

If you want to fix all the shit that has been going wrong

In the last Two years, then you know who you will have

To vote for.
mildlyamusing1
West Hollywood, LA, CA
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Apr 27 2023 10:20AM     link to this

If this is true, it’s a monumental blunder for the Democrats.

Lower rates have to be tied to better credit. That’s the whole point of having credit ratings. To properly price risk.





GoBallsDeep
Fullerton, OC, CA
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Apr 27 2023 07:09PM     link to this

"What does this rule have to do with safety?"

OK, Listen up. Any rule that's got nothing to do with "safety" is null and void
So sayeth Corndog, God of the Holy Mustard, Protector of all that has pickles
All Clubs on the site are now closed except for, of course ......Safety club.

What other absurdities can we cook up using Corndog's devilishly clever logic?
GoBallsDeep
Fullerton, OC, CA
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Apr 27 2023 07:17PM     link to this

Just wait til Biden works over the rest of the debt arena.
If we can do this to mortgages, why not credit cards?
Maybe even debit cards.

Use your debit card, not only is it free but some random schmuck with a higher credit score will give you cash back!

Vote for me!

remo_williams
Irvine, OC, CA
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Apr 27 2023 07:26PM     link to this

Hey, MA, glad to hear you say that the point of working hard to earn and maintain a good credit rating is to have better rates, (due to properly pricing lower risk).

But let me ask, what is your opinion when you hear people on the left say stuff like, credit ratings are racist?
GoBallsDeep
Fullerton, OC, CA
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Apr 27 2023 07:29PM     link to this

WAIT! Popcorn isn't done yet.
mildlyamusing1
West Hollywood, LA, CA
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Apr 27 2023 07:49PM     link to this

@remo

It depends on how the FICO score is determined. If the data used to determine the score is based on the individual’s payment history, debt load, etc., then that couldn’t be racist since there is nothing in that data that ties to any race.

But if it is also based the race you’ve chosen in credit applications and your zip code, then I can see how it could be a factor in determining the score and therefore can be racist.


The simple fact that “more” blacks and Hispanics have lower scores than whites is not evidence of racism.


mildlyamusing1
West Hollywood, LA, CA
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Apr 27 2023 07:55PM     link to this

“The simple fact that “more” blacks and Hispanics have lower scores than whites is not evidence of racism.”

I should add that it is not evidence that racism played a role in the score itself, but societal racism may have resulted in lower wages, which made it more difficult for certain groups to make enough money to pay their bills on time, which would have resulted in their scores being lower. But of course that’s a stretch.


remo_williams
Irvine, OC, CA
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Apr 27 2023 07:55PM     link to this

^^^^^

Holy Shit, we actually agree on something - (insert the sound of rejoicing)

But, I feel few "progressives" share that feeling.

Perhaps I'm wrong? Shrug.
remo_williams
Irvine, OC, CA
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Apr 27 2023 07:58PM     link to this

Oops, didn't see the caveat when I posted.
mildlyamusing1
West Hollywood, LA, CA
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Apr 27 2023 08:00PM     link to this

It’s not a caveat. I’m saying the argument I presented would be a stretch (not valid).
jake2k69
Irvine, OC, CA
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Apr 27 2023 09:14PM     link to this

Im so fucking happy with this reparation, I mean help. I fuckn borrowed a shit load from banks run by white people. I wasted most of it of chicks, Coke, and weed. I invested enough to buy in behind the orange curtain. Then I declared bankruptcy. My credit score is shit. This is the second time in my life. Papa Trump has taught me a lot. Ironic that others who toad the line. Did it the right way are gunna be payin for my lifestyle. Thank you.

Dont believe a word I say.

But its the true

Keep it stiff and handy
There are 33 comments on this blog.