ok, i know you have a campaign event you want to go to a district where you won, they want to use the political fodder they have. how funny to hear democrats say in america we pay our bills. the same party that wants to put billions of dollars so the richest americans don t have to pay college debt, want the rent thing forever, moratorium, the supreme court had to step in for that, if you ve been terrible with your finances and you have a weak fico score, we ll give you a bonus. if you did the right thing, you ll get punished. if you are rich, give 7500 to buy an e.v., and with the white house, public relations first, execution last, public relations first. high tailed out of afghanistan and did it the exact opposite way in school.
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charles: it is a worldview problem but an american-centric one with the sound bites of that being the reason to push through the policy is my mind ironically make it harder for lower income folks, make it harder for middle income americans, for instance next week they are going to change the mortgage laws. if you have great fico score, have to pay more money. this is going to hurt people who make 400,000 or less. what they do as they save their money, they skip the parties, they sacrifice, they filter scores up and now they will be penalized when they go to buy a house. that s exactly right, but that bad policy comes from the bad worldview. it comes from the bad thinking and ideology that does not understand incentives. it does not understand the way that the world works. so to incentivize bad behavior is a thing as to punish good behavior. these things come from the same flawed reasoning.
on may 1st, whether you like itn or not. and they meae n that anyone with good credit that s defines the score of 680 or above is going to have to pay roughly forty dollars a month extra on their mortgage fees. on their mortgage fees. on home loans of arounpadmort four hundred grandga. so here s an example. if you have a fico score of 620 ,you get a one point 75% discount on your mortgage fees. if you have a 740 score, inrtgae other words, you pay your bill s on time. you ve done the right thing.ore you re a good citizen.y your you have b to pay 1% more so you you have b to pay 1% more so you the right thing and paying your bills. you get punishedyo doing the . we are incentivizing bad behavior. we re hurting the good people. since the day you were born, you have been told pay your debts. it s not your money.shed you borrowed i.t from somebody beu borrowed i.t from somebody else. you have to pay it back .vior. if you don t, it s stealin g. r u don t, it s stealin now we re saying if
as interest rates rise to fight inflation the former ceo. mortgage bankers association thinks the change will slow a slowing housing market. the buyers better credit worthy borrowers who deserve to get good rates will be stuck paying more because the policy is built on a hope of getting that cross subsidy to work nor effectively. i don t think it will happen. bill: after may one a person with a 620 fico score and down payment of 5% gets a 1.75% fee discount on a 30-year mortgage. someone who protected their credit and has a score of 740 for above with a 15 or 20% down payment pays a 1% fee or increase of 75% from the current rules. this applies to mortgages of all sizes which means people making less than $4 hundred thousand a year with good credit will be