Housing Crash Now All But GUARANTEED
ฝัง
- เผยแพร่เมื่อ 1 ต.ค. 2024
- Get yourself some physical gold and silver today from National Gold Group Call 888-840-5945 or mbgold2023.com
With this new Biden rule that will subsidize low income / low credit score borrowers, the housing crash is all but guaranteed. Why you may ask? Because this is EXACTLY how we got into the last crash, with too many bad loans, made to subprime borrowers who could not pay. And this is just the latest version of that. The defaults will ramp up along with eventually foreclosures and short sales saddling the U.S. housing market with too much inventory all amidst a recession crashing the housing market.
Need a Realtor? homeandmoney.c...
======
Like My Sunglasses? Get a Pair ebay.us/K1OQ9H
======
I offer 1 on 1 calls, book one if you'd like!
michaelbordena...
======
My Filming and Editing Equipment
michaelbordena...
======
Sign Up for My Email list and Get Weekly Video Updates in Your Inbox!
bit.ly/MBremin...
======
Get Cash Back on ALL your Internet Purchases!
www.rakuten.co...
Articles Mentioned in the Video
www.foxnews.co...
apple.news/AQ8...
apple.news/ASc...
apple.news/AgY...
FTC Legal Disclaimer - Some links found in the description box of my videos may be affiliate links, meaning I will make commission on sales you make through my link. This is at no extra cost to you to use my links/codes, it's just one more way to support me and my channel! :)
Get yourself some physical gold and silver today from National Gold Group Call 888-840-5945 or mbgold2023.com
Advertising on someone else's page is parasitic, make your own page and argue your point.
@@edtheplumber5307 You do realize that’s the owner of the channel, yes?
The opportunity is for people to buy entire house/property with cash upfront. No banks, no interest rates, no BS. I always did that after my 20s, with cars and/or condos/houses.
@@diy5729 Me too! It’s why I can’t buy other people out of their problems.
we have 21m btc, how many houses in us? I guess btc price will become more stable once we start to trade it more for real goods and services
Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
Actually, you can blame the Fed for manipulating the market by keeping interest rates artificially low for the last decade. They created this mess and now there's no way to fix it without completely crashing the market. And I'm OK with that.
You can also blame the Fed but most of it goes to those investors that have made life difficult for the 61% of people that are living paycheck to paycheck and can’t afford to buy a home because of these investors that gobble up the properties and jacking up the rent and buying price for a home. That’s BS.
He's mainly talking about CA real estate in the Bay Area for this video. Many real estate investors in other parts of CA, and even other states, are still doing well. In CA, I'm sure the lack of supply to meet demand, rising construction costs, extremely long process to approve housing projects, and high property taxes are just a few things causing high housing prices in the state. It's bias to just use real estate investors as the scapegoat to "a major reason why the real estate market is the way that it is now".
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
I am currently in contact with ROCH DUNGCA-SCHREIBER .She has an online presence, so you can easily find more information about her by conducting a simple search.
*Considering the economic downfall and the rise in poverty across the globe. I ask; What’s the best way to achieve financial freedom?*
This is the best question of the year. I pray you get the right answer here.
By following this practice; *(Being frugal , Investing and staying positive),* and by working with a *financial planner,* I achieved financial independence.
If I could ask; who’s your financial Adviser and how do I gain more info?
I get help from *Hamilton Phoebe Zoe.* A well known Investment Adviser who operates privately . You can research her name to get more information.
I am very pleased to see Mrs. Hamilton Phoebe's name mentioned here. I have worked with her consecutively for three years and can recommend her services to anyone who is ready to invest.
FJB !! A complete disgrace to this country.
81 million votes buddy! 😂
@@NineFourOneMedia they will give themselves 181 million next time and tell everybody its normal nothing to see here
@@NineFourOneMedia
85,000,000 in 2024
@@jimcrawford3185 I'm thinking they'll really go for it and turn out 500,000,000 you know, "just in case".😂
@@NineFourOneMedia
Excellent point
Why not?
Trees can now grow to the moon and Jotato Xiden can be our pretendisent forever
I’m tired of working this hard just for property to get further and further out of reach and for a huge portion of what I earn to get stolen and given to others who made worse choices
You and me both
This is what happens when the non productive voter's vote counts as much as a productive voter's.
We are all sick and tiredof this nonsense.
@@carlo6912 nonsense and insanity. So much going on defies logic and intelligence.
@@oldroscoe2590 Or counts more with the tricks they play behind the scenes and block forensic audits of elections.
When people with bad credit default, the government will probably forgive the loan
Even if they do, I guarantee local counties aren’t going to be forgiving anything if they don’t pay the property tax still a route to foreclosure for nonpayment
This new law to have those who financially responsible help those who are not financially responsible help buy a home is absolutely ridiculous. Aren’t we already doing that with welfare, section 8, food stamps, health care, dental care, etc. etc. etc.
That’s right, but they just want to take more and more from the responsible
All they gotta do is cut military expenditure but nope screw everyone to keep the focus off
Absolutely! We the people pay for everything!
Low taxes mean that the consequences are social inequality. So, one way or another, there’s still a cost if you want to pretend that, if every body works like a dog, they can afford a house. On minimum pay, no person can afford a roof over your head. That’s the American way.
You keep using the word responsible as if someone that doesn’t have a huge down payment or makes $150,000 a year. Isn’t responsible? they’re just people that want the same opportunities. because of the huge disparity between the haves, and the have Nots get off your high horse.
I‘m outraged. Worst administration ever.
Not the Admins. It's the people voted that kept voting on the same nuts case in there
The Absolute Worst....... sigh....
@@winnerwinnerchickendinner8809 stolen election
Silence peasant!
Worship your reptilian overlords
Then don’t vote democrat next time someone runs for office I bet you miss Trump now
What we learn from history is that we don't learn anything.
For sure!!
Housing crash facilitating SOCIALISM 😢😒
Define socialism?
If interest rates keep rising the average home buyer will not be able to buy a home.
what should be on everyone's mind currently should be to invest in sectors based on performance and projected growth, pretty much how i made my first major earnings. Especially with the current economic crisis around the world. I'm taking advantage of the low prices. I have a diversified portfolio that spread across stocks, grade bonds, coins and etfs. my broker Trisha Jean Webb ,handles all my investments and ensures I stay above the market
A number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet.
Everyone's preaching doom, without any key data-trajectory on how to maneuver, it's obvious stocks are unstable but folks are still pulling off huge 6 figure profits from this same market y'all are warning us about.
who’s the person guiding you.
@@JuneroseCarcina My advisor is Trisha Jean Webb , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I did read about Trisha Jean Webb on the web., quite a great resume she has
As someone who hates Trump, I will vote for Trump if it means getting rid of a garbage law like this...
👆👆👆
Let's talk right away.
How 'bout RFK instead?
👍👍👍👍
You took the words right out of my mouth.
Biden trashed us
This is wealth re-distribution. You actually think they haven't thought this through? Oh yes they certainly have thought it through.
Because the government has our best interest at heart 😂
It’s the AGEN-DA!
I believe the Obama administration wanted to push this through but it was stopped.
100% planned and scripted
Is their wealth going to be distributed too…NO, they get richer by screwing the responsible hard workers.
This country is being perfectly planned…for slackers!
Been working on my credit for 2 years and now it looks like I shouldn’t have been. Isn’t this new policy discriminatory?
Not only is it discriminatory, but it’s unconstitutional
@@MichaelBordenaro let's sue them.
@@helenbogaard7292 yes that’s what we need to do
YES but we're all saps I guess! How much more of this shit are we supposed to shovel?
I think it s raysiss to suggest discrimination
I was going to marry this girl who was a 10 but she had a credit score of 800. i just can't take that risk!!
😂 deal breaker 😂
NO to marriage All women took the train to the big city...I needed her to slop the hogs...
My buddy married one she had Filed bankruptcy,DUI 2x at 30..Found out later too He Said..
S-O-C-I-A-L-I-S-M. . .
This is BULL! We worked hard for our credit!!! This country is upside down due to this administration. Thank You Michael and Happy Sunday!
It’s completely upside down. Happy Sunday Juliet!
It's been upside down since 1913.
@lordhumongus8669 don't be rational
Rigged elections have consequences 😂😂😂
This is pure ideology. We will all be made equal, no matter the cost! Believe me, the people writing this policy do not care if it makes the average person poorer, or if foreclosure rates go up. Its all about securing votes from the stupid people who don't understand how economics work.
It’s Communism.
"Equity" in the housing market. I just saw a video on tucker of kamala saying appraisers are going to have to do crt training because they discriminate against blacks
@@tessareynolds8377 It’s TOTALLY Communism! All this is part of their AGEN-DA!
Where are they with putting low income housing in nice neighborhoods- Biden said he wants this.
Equally poor
It s so woke
We are living in an upside down world, I’m convinced of that now. Unbelievable.
All by design. Blackrock wants to benefit when people that shouldn’t own homes lose their homes.
BlackRock is in huge trouble.
@@lordhumongus8669 Not in nearly as much trouble as everyone else is going to be in.
@@stephen5147 Read about A_G_E_N_D_A 2030. And not from mainstream sources...
@@WickedMouse They are all interconnected.
@@lordhumongus8669 I'm talking about common people. They are going to be in for way more hurt than any of these companies.
This kind of government thinking is why I will never again be a landlord. Bad behavior is rewarded on the back of everyone else.
Landlord lol so you get more money to low income people and get money on the side that is greedy. I seen one owner that have like 5-10 properties for no reason and not let nobody renting it. So I kinda glad to see more low income people succeed to get a house
Agreed..Renting out your property only sounds good to someone who has never done it!!😂
@@marcusodne3184 It's a thankless task as many low-income will never take the time to learn. Some can and do, but too many will continue to think they are owned - whatever. I was not greedy, and I could have charged almost double (or more) what I did. It make no difference. My last tenants broke-up, and thought (each of them) that I owned them something. The one before that - I never allowed myself to be alone without an witness when dealing with the tenant. Too bad as that one actually always paid on time, but refused to understand the lease had other conditions to it. And when the second son came home from serving prison time - that must have been when the paint got burnt off the back of the stove. No - this kind of government policy only promotes bad behavior - that in the end everyone gets to pay for.
Never again. I am not St. Vincent de Paul.
@@ksmith2852 Indeed! 😀
Um, when you rent out a pie ce of property, you tenants are paying for everything, including this fee, because as a landlord, you build it into your rent.
Rewarding bad behavior? Unbelievable!
clearly BIDEN has never seen a Dr. Phil episode. Rule #1: you don’t reward bad behavior!
Have to write it that way or TH-cam shadowbans the comment. ^ As expected.
How isnt this going to court?
@@janetairlines1351 Too many asleep people and most common people unwilling to take a break from Netflix to do anything of importance in their off time.
I've been struggling to buy a home for two years because of affordability. Now I have to pay money for someone else because of affordability. How the F' does that calculate? 🤬
It’s messed up
Just get a loan without it. ??
0:28 💯 if I owned a home in the states I would be pissseedddd about that new law
It’s criminal
We are!
Michael. Michael Michael. Haven't you figured it out yet. it's not your money 😂 it's the government's money and they will waste it any dam way they please ...sad but true..,
BlackRock just waiting like a vulture to finish enslaving the rest of humanity
That's not a fair comparison. Vultures keep the desert clean and only take what they need.
buying a land and build your own house with your own money is the way to go. Just like in the 1800's
Smart move.
Agree. I've owned two houses but when I calculated the amount of money I'd be paying the banks in mortgage fees over 30 years, I sold them. I refuse to play the banking game and make them richer. I'll pay cash, build my own, or rent.
@@lifewith9cats153 Move that Funny Money into real Money Silver and Gold Coin.
Dumb move
@@SamuelClemente7718 What is dumb about it please explain.
They are trying everything to achieve their goal: “Own nothing, you’ll be happy” by 2030😢
Own nothing is exactly right. But be happy? I have serious doubts about that.
That’s why you have to focus on building wealth. Make it so you’re not one of the people with nothing. What are you going to do, roll over and let them gut you? Build passive income, get a side hustle…
@@Lexxie45 No, no one will be happy other than the billionaires on top. The “you will be happy” part is gaslighting. The sheep are more malleable when they are lied to.
Joe Biden or Donald Trump 2024? Thumbs 👍 for Trump. Thumbs 👎 for Biden.
So we're already paying student loans off, now we're going to subsidize mortgages for poor quality borrowers. Please, what else can we do - wipe their bottoms for them?
Glad I paid my house off a couple of years ago. I'm 62 years old debt free and plan to stay that way till the end
Owning nothing when you die should be the goal of everyone. My parents spent so much money and time setting up living trusts to put their real estate holdings. I could go on for an hour about the problems with these Trusts.
They'll raise real estate tax to kick out those who paid off their houses
@@ksmith2852
Interesting
I thot the living trusts were the way to go
@@xjjt216 Yeah they are fkingSnakes whoKilledJFK and Did91/ /toNameJustaFewthings.
People don't understand how bad it is.
@@xjjt216 No they won't. Quit listening to these doomsayers.
Keep voting demonrat 😂😂😂😂
People waiting for a crash will continue to see prices rise. TH-camrs have been calling for a crash for almost 10 years. It’s the definition of insanity.
Correct.... Dynamics are different now
This policy is completely insane. It negates the most critical point of credit score
Absolutely
Houses are so over priced!!! An 80 g house in 2012 is now 400,000 and still a dump and ghetto
Hello hello😂
Texas is getting hit with higher property taxes also.
Working on lowering my Credit Score....Thanks Brandon....lol
That is such BS. So many of us scrimp and save, barely go out to do anything, have great credit scores, still live paycheck to paycheck, and now we are forced to pay for people who are irresponsible? This sucks!
Welcome to socialism! Work hard so others don’t have to. It’s for the “common good”. You should feel honored 🙃
Wow, helping people who shouldn’t be buying houses in the first place . . . It’s almost like this happened before. Oh yeah . . .
How many Single Taxpayers pay for people with dependents. Ever Year they are taxed and billed into poverty. They also pay higher insurance and phone bills while those with families receive discounts
we become more socialist everyday
As CDBC comes, actually communist USA!
A whisker away from full bore commie
Joe does not need another four years, I am confident he can finish us off in the time he has left.
All by design. Ppl need to wake up. They want you to own nothing and be happy.
I have heard about this. It may only be a small amount ($40 to $60 per month on a $400,000 house) but it is the principle that matters. You are supposed to be rewarded for having good credit. Not penalized. Just stupid.
$40 - $60, for now...remember, the first income tax was also "only 3%"...😁
@@EroticOnion23 True
It is the constant pushing the financial burden to the people paying taxes. I live in California. In January the mayor of LA hired a "CZAR/CEO of Homelessness" Her salary of $430,000 plus benefits plus perks like travel, car and fuel are paid for by our taxes that are also being paid for the maid service to the people living on the street. In Santa Monica each Friday a team of about 50 people including cops, park rangers, counselors, homeless outreach and trash and maintenance go to Santa Monica Beach to clean out the public restrooms where people are living. In the handicapped stall there were 3 people 2 shopping carts and a dog. All of that is also paid for by the people working paying payroll taxes, people owning a home and paying property taxes. In Oregon, they just passed a measure to add an additional state tax on capital gains to pay for attorneys to be assigned free of charge to renters being evicted due to non payment of rent.
SMALL $40 to $60 That's ⛽️ etc. 🤬😤 THIS IS NOT COOL and UNFAIR!! This Contradict WHAT we were Taught?? I'm VERY 😠 SMH! "THIS NEEDS TO STOP! Can we SUE for THIS? "The People Versus The State.
@@valeriemonroe6422 I agree.
It is BS.
Sounds like a wealth distribution scheme to me
Is the Pope Catholic?
Sounds like your spreading another conspiracy to me
@@aquaticborealis4877 Your reaction tells me you think anything anti-establishment is a conspiracy. NO, what I propose is a theory based on the actions of the current establishment and communist regime in power!
People with good credit should be championed. Instead we're fineD? Clearly SOCIALISM! Let's go Brandon!
So I get to help finance someone else's goal of buying a home and get punished for it ? Yeah....that seems very fair. I like that. Thanks Joe !!!
This is NOT true!!!!
Click bait for this guy to make money since he's not doing selling real estate
@@gaylemartin7401 Then what is true. Because I did some research and it seems to be fairly accurate.
Watch “talk about houses”. This guy is clickbait and he’s blowing it out of proportion
@@House_hacker_619 How? You come on here saying that but provide no evidence/facts. I did some research on it and it basically higher credit mortgagors are being charged a fee that is put aside for minorities. How is that click bait when that is exactly what he is stating. Now as far as the foreclosures that is just an opinion of his. You accuse someone of click bait or blowing it out of proportion but provide no facts.
The “American Dream” has quickly turned into a money grab. Everybody from Home Depot, your local government, and of course insurance have turned your dream into their own personal piggy bank. Modern homes are generally poorly constructed and now severely overpriced e specially considering the taxes and insurance prices. Good luck to all of you out there, I am officially out of the market for the foreseeable future. My rent is only slightly more than what my escrow would be in my area of Florida.
A house being lived in is now its secondary purpose.. now they primarily exist as debt collateral.
It's not worth owning here anymore- too much red tape, too many headaches. No control of tax increases or fees. If I do buy it will be abroad- and that's in 15 to 20 years.
It's no surprise that they're pushing for DEI initiatives everywhere as well. Too many people don't realize or care about the differences between EQUALITY and EQUITY. One provides equal opportunity... one provides equal outcomes. In a system tailored to the least common denominator, guess what happens when you push for equal outcomes? Anyone who lived in the former USSR can see clearly where this is headed.
USSR will be better, Slavic people are actually highly intelligent 😎
🎯🎯 Bingo
I was going to say what Florida Girl said. Bingo! Why is it so hard to understand?
Thank goodness that FL recently outlawed the use of ESG in FL. Outlawed by statute.
Yep. The US is really a low-level communist country. Has been for quite some time.
All according to plan, price out those with good credit-scores and eventually foreclose those with bad credit-scores, 2 birds with 1 stone.
"You will own nothing and be happy (or else)" 😵
That pretty much sums it up.
What rate do you get with zero credit??
Srs what do us no credit people do?
More tricks, traps and spin for the people. Gotta love your leadershit!
Yeah I'll be negotiating that out of the price. Take it or leave it.
Welcome to communism people. I’m 38 years and out of those the first 20 years were spent under communism. For the last 5 years I have been telling to friends and family the direction this country is going and most of them always reply “ that’s never gonna happen in this country “only Time will tell. 😢
I'm so sick of all the garbage from this government. We're not rich so we've sacrificed to have a down payment & have good credit, now we're being punished for it.
America 🇺🇸 =😢 Venezuela 🇻🇪
That's it, Im going to quit working and live on welfare.
Thanks everyone for paying for me now.
👆👆👆
Let's talk right away.
It's déjà vu all over again.
Mortgage Fractional Reserve lending is kaput. Forget rigged Credit Scores 😂
Hi Michael, I just wanted to share my story with you. I purchased a home in Dallas area for about $300,000 right before the pandemic and the value has gone up nicely over the last few years. Come with it is the taxes and the insurance. My mortgage payment was about $1,700 including escrow. My new mortgage payment starting in June this year will be around $2,200, a jump of $500 (property taxes and insurance only) a month. It’s nice to have some equity in the house, but it’s only if you are selling it. In my case, I this is my only shelter for my family. Therefore, I have to pay extra $500 a month because of the rise in home value. Luckily, I am still able to afford it. Imagine someone who purchased a property knowing that their income could only cover the original mortgage payment. The rise in home prices is not always a good thing even for the current home owners.
First world problems I guess.... If you had to sell it.
@@hvaball150 Still have to find someplace else to live which is an any part of the world problem.
My mom was crowing about the value of her house going sky high.
Then she got her property tax bill, based on a new assessment.
Not crowing now.
HVABALL posts communist garbage on every thread. Victimhood class warfare. Great little communist.
I agree I’m not selling and wish the value would go down because my payment increase over 300.
Just north of Orlando in central Fl 300 to 400K priced used houses being snapped up in a few days or a little longer listed at Zestimate values. Inventory low. Seller's Mkt.
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. 2023 will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $80,000 savings to turn to dust
Me too. I thought about investing in the financial market, I heard that people make millions if you know the tricks of the trade, but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $160,000 but it's hard to bite the bullet and do it. Money is hard to come by
Do make sure to avoid too-good-to-be-true scam schemes. Seek advice from a fiduciary counsellor they provide personalized advice to individuals based on their risk appetite, placing them among the best of the best. There are bad ones, but some with good track records can be very good
@Kumar singh I went to her and she lost all my money. 😢
@Kumar singh I used her services and she lost me money. I did more than just research. I actually used her service and it failed me. She is a failure.
People won’t have good credit for long after this decision. I’m tempted to go max out a card and never pay it back.
Go for it!
And then only put down a small down payment.
Hot Dogs,Pizza and Popcorn to get first House.Still alive Too. 😁😁😁😁
I was going to buy a house this year with 60% but I'm not subsidizing anyone. I will wait a year or two and buy all cash.
I'm late on my yacht payment made $300,000.00 last year but my credit score is 620 win win for me Thank you Joe biden ✊🏻
I talked to a guy in San Diego and he loves the open boarders. He says he makes so much money on illegal's he loves it. The same is true for all so-called low income, the government money goes right into their pockets. I watched a government worker trying to get people on food stamps and I just couldn't believe why he was working so hard to get even more on food stamps. Well it turns out the big winners are the sugar companies and soda producers etc. so it all makes sense.
And then after they get diabetes from being able to buy Coca-Cola with EBT their insulin is free. This subset of people seem to be the Democratic party's "cash cow" to fuel the economy.
Until that San Diego guy gets hit by a drunk driving illegal, become a quadriplegic for the rest of his life, and the illegal walks out on $0 bail...well, one can hope...😁
The majority of people receiving food stamps in this country are white.
I have an 820 credit score, I worked hard and pay all of my bills on time. This is a spit in the face to everyone that is fiscally responsible. The only good thing to come out of this I can see is the defaults and responsible homebuyers getting houses on discount.
Dotgov loves to make chumps out of those who do their best
The American dream because you have to be asleep to believe it. George Carlin
@@lordhumongus8669 my favorite comedian
@@drew8979 He spoke the Truth.
@@lordhumongus8669 not only the truth, he predicted everything
This is a mortgage mess, and it's not right. Why should we have to pay for the mistakes of people who don't manage their money well?
Exactly
You know, I have been working 2 jobs to pay down my debt. It’s been a slow, steady progress but I’m doing it. I’m saving and setting myself up towards buying a home. I have great credit but I want out of debt first. This is ridiculous. If people want a leg up, do what others are doing and work towards a good setup.
Keep up the good, hard work! You'll be proud when you've paid off your debts.
@@lifewith9cats153 thank you ❤️
Paying off debt frantically to obtain the largest debt you will have in your life.
You have to check the social equity boxes. Disregard the traditional way of living...working hard, paying your debts and saving is looked at as a bad thing these days, you will be punished.
@@makdaddy8399, Ikr! I’m trying to think what social equity box I can check off…. I’m white which is ultra bad these days, I’m a bio female which is now considered bad, I work hard to make 90k which is now considered selfish and I must give it to others. I wonder if being left handed to at least check one social equity box 😆😆. But I do want a house to call my own but if it never happens, it’s not the end of the world. Being debt free is the most important thing to me. Have a good day.
This is just a NEW section 8 program, instead of you renting your owning still with government help (Tax payers)
same as 2008 all over again
Yep!!
Every week, you say the house market is going to drop, and all that's happened is that my house has gone up, stop lying and scaring people never bet against USA
Don’t forget to mention the 1% fee surcharge for those with high credit scores, and the 1.75% fee DISCOUNT given to those with credit under 680 (on a $400,000 loan, that is a $7,000 savings, whereas those with good credit would pay an extra $4,000)
You will be a slave to your home. Maxed out. No vacation money, no repair money, no upgrade payment. I could go on but you get the point.
👆👆👆
Let's talk right away.
True. But people are slaves to rent as well
As of 1 May, everyone tries to get their score to 679.😅😅😅
Hang on! Doesn't this have to go thru congress, and can't republicans just vote it down?
Was the pandemic foreclosure moratorium run through Congress? Oh, that's right, the CDC acted unilaterally. We live in a dictatorship now.
No, this is a fhfa agency policy. I'm not sure of their process though. Its in place at basically all lenders already.
Almost no one is going to qualify, and meanwhile they will add more cost during a time of unprecedented cost.
If you don't have 20% down you can't buy a house.
I have one problem with credit score - don't have credit card , pay cash for my cars, refuse to pay a ridiculous medical bill.
... I own my house and have enough to retire in stocks.
- I don't have credit. I own a llc that has credit. Basing loans on credit score instead of down payment and income seems wrong.
👆👆👆
Let's talk right away!
If you voted for Brandon, how's his policies working out for ya?
A guy i work with was fired up over this, and his house is long ago paid off.....Lets go Brandon
It affects him deeply because paying off your home is an amazing achievement that only happens by being financially responsible. (And, let's just say a person received an inheritance to pay it off. There are many people that will get a HELOC on the home that was paid off by the inheritance.) What Biden is doing with these loan shenanigans is a slap in the face to him and many people who worked hard to own their home free and clear.
Why do you think Biden is responsible for this?
@@ksmith2852 😅
Tell me their tanking the country without telling me their tanking the country ……….
So I built up my credit to get ok rates for nothing. Nice
It is just unbelievable what Brandon or should I say Obumer is doing. Thanks Michael for what you do.
👆👆👆
Let's talk right away
Let’s go Brandon 😊
NWO Agenda. Biden a puppet
The two party system is run by the same people.
@@SteveNoverini 🎯🎯🎯
Happy I paid cash
What’s up with the chrome rooftop gorilla 🦍 on your walk?
Thanks for covering the new punishment for folks that worked hard for a good credit score.
I don’t know I guess it’s a piece of art for them lol
It's an orlinsky. He has a shop on Lincoln.
Wondered about that too 🤣
My credit score just went up by 53 points, I can't even get happy about this now. My house is up for sale and I want to buy another property this sucks!
Whomever came up with this new mortgage idea needs to pony up the money themselves!
I remember as a kid (early - mid 60s), my Dad was so mad cause a neighbor was able to get her house fixed up/repaired (40s houses) for free through some program, when he had to fix his house with his own hard-earned money from working in a factory. Guess the government has been penalizing (spitting in the face) of responsible people for a long time.
Sounds like my grandmother who was volunteering and delivering Christmas presents to low income families in the 80's. She was so mad because many had more material things than her own family had (i.e., multiple TVs, nice clothes, etc.).
Was your neighbor a low income, single mom?
@@lifewith9cats153 It’s the same experience for single taxpayers who subsidize the lifestyles of families.
@@Jack-pd4ps YES !!! They told me that my Ins same as one with 20 Kids ..
@@Jack-pd4ps Agree. I've been single my entire life and feel the pain of paying for services I'll never or rarely use.
This is crazy! I’m going to still sit on the sidelines.
Yep ditto
Massive transfer of wealth designed to create equity and which bypasses fundamental laws of economics.
The MOST popular president EVER!! Lol
yeah 81million votes, next year it will be 181 million! its a miracle! 😅
There will not be a crash, people will sell to waiting cash buyers before foreclosure, while the average Joe in need of financing will be priced further and further out of the market due to rising rates. People on the fence should buy now while they still have a chance, or they'll be renting forever
Exactly. Sitting on the sidelines waiting for a wave of foreclosures has gotten expensive and wasn’t a good idea.
Just when I think this administration can't think of anything stupider!! Outrageous!! 🤨
👆👆👆
Let's talk right away.
The American dream is dead! You work hard and do all the right things to be able to give your kids a good life and they pull the rug from under you!😢
Yep. The first thing that I thought is that this sounds similar to what they did under Bush, and we know how that turned out.
Landlords did it to paying tenants in 2021 with the huge rent increase. Paying tenants ended up paying for bad tenants.
I have good credit, and they want to charge me to help create more defaults. Next step is when they step in and declare the banks too big to fail.
Correct on the first part, I don't think will be a systemic problem at least for a few years. Underwriting is under control and they are charging more from the higher credit people.
@@oberhartkids9319 Do you think it will be enough to make up for increased defaults?
@@barryon8706 i think so for now, I think more loans will be taken out from lower score borrowers than those with the increased cost, but the im pretty sure they calculated that to offset. It's the long term or further consequences of this that could be rough.
@@oberhartkids9319 I hope their calculations were right.
@@barryon8706 i think it'll take some time to play out, but if foreclosures triple or more and stay there, I think the fhfa/fannie/Freddie will be forced to charge more. Who knows what their next move will be.
I own crypto and I stake it. Never sold one token. I own gold I bought in 1999 - 2000 and never sold one gram of it. My daughter will get it when I croak. I bought stocks for my grand daughter that she can cash in when she is 18, not before. I am just happy to be able to pass these things on to my family when I am gone because if things keep getting worse, they will need it.
Probably they will give homes to poor people and make you buy their groceries and cook their dinner after you come home from working all day.
EVERYBODY IS PAYING 45% OF THEIR INCOME FOR HOUSING!
The Collapse will take care of that.😂
That can't be sustained. Once the income tax refunds are used up- watch out...
I make 66k/ year, desperately want a home for me and my kid, and live with my mom. With the way things are going, I will probably live with my mom until she passes and then just continue living here with my kid, while saving up for her to buy a house in cash.
Actually, mine is closer to 50%!
No, but a lot are near 40%. Its risky up there, but if you have no other options 😑
No way 😂. I heard you but I am in disbelief right now lol. Geezus
FJB
It won’t be long and we will be able to buy a house with tulips.
👆👆👆
Let's talk right away!
Or bitcoin