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Topic: In other news ...

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FearlessF

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Re: In other news ...
« Reply #22792 on: April 21, 2023, 09:28:14 AM »
I would believe some Russian ships may have been gathering intel, fine, but to extend that to "they are going to attack Britain" is silly, at this point.

They MIGHT at some point try and sabotage some things covertly, like the pipeline (whoever did that).  Another nuclear plant disaster in the west would really kibash a lot of things.
well, the Germans shut down their plants
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FearlessF

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Re: In other news ...
« Reply #22793 on: April 21, 2023, 09:30:45 AM »
When I get back in the office I will share the actual numbers with you. It definitely subsidizes people with worse credit scores and lower down payment by charging more to those with high credit scores and money for down payment.
so, my daughters should blow up their credit and show they have very little for a down payment before taking the 30 year mortgage?

easy peasy
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longhorn320

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Re: In other news ...
« Reply #22794 on: April 21, 2023, 10:01:08 AM »
so where does this extra interest charge go

who gets it
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Cincydawg

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Re: In other news ...
« Reply #22795 on: April 21, 2023, 10:10:33 AM »
Folks with poor credit.

FearlessF

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Re: In other news ...
« Reply #22796 on: April 21, 2023, 10:11:46 AM »
hasn't that always been common?

and racist 
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FearlessF

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Re: In other news ...
« Reply #22797 on: April 21, 2023, 10:13:58 AM »
MOSCOW (AP) — Russia’s military acknowledged that a bomb accidentally dropped by one of its warplanes caused a powerful blast in a Russian city not far from Ukraine’s border, injuring two and scaring local residents.

Belgorod, a city of 340,000 located about 40 kilometers (25 miles) east of the Russia-Ukraine border, has faced regular drone attacks during Russia’s current military operation in Ukraine. Russian authorities blamed the earlier strikes on the Ukrainian military, which refrained from directly claiming responsibility for the attacks.

The explosion late Thursday was far more powerful than anything Belgorod residents had experienced before. Witnesses reported a low hissing sound followed by a blast that made nearby apartment buildings tremble and shattered their windows.

It left a 20-meter (66-foot) -wide crater in the middle of a tree-lined avenue flanked by apartment blocks, damaged several cars and threw one vehicle onto a store roof. Two people were injured, and a third person was later hospitalized with hypertension, authorities said.
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longhorn320

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Re: In other news ...
« Reply #22798 on: April 21, 2023, 10:16:16 AM »
Folks with poor credit.
be more specific

exactly where does this extra interest end up

with the lender?
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

847badgerfan

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Re: In other news ...
« Reply #22799 on: April 21, 2023, 10:32:51 AM »
be more specific

exactly where does this extra interest end up

with the lender?
Seems like it subsidizes the lenders' risk.
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longhorn320

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Re: In other news ...
« Reply #22800 on: April 21, 2023, 10:38:05 AM »
Seems like it subsidizes the lenders' risk.
if thats the case what stops the lender from reducing the normal rate they would change to zero out the affect of this interest tax

the mortgage industry is very competitive
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847badgerfan

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Re: In other news ...
« Reply #22801 on: April 21, 2023, 10:39:59 AM »
They remember 2008 and the cause of it.
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FearlessF

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Re: In other news ...
« Reply #22802 on: April 21, 2023, 10:40:53 AM »
does the mortgage industry have a strong lobby?

I would imagine they will benefit from this
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betarhoalphadelta

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Re: In other news ...
« Reply #22803 on: April 21, 2023, 10:41:29 AM »
Maybe someone will sue, a lot of folks have "standing", and at least delay it.  Imagine some government department started adding fees to the purchase of say milk depending on your income level or credit rating to subsidize poorer people ...
Thanks. The table seems to have higher percentages the worse your credit is, so it seems like they're charging those with worse credit HIGHER fees, which is why I find it confusing that this somehow subsidizes people with bad credit. And it seems that this is designed to make mortgages less risky for lenders by charging up-front fees, which would make sense to charge the more risky borrowers more money up front to reduce the lender risk. 

And it seems these fees go to the lender, right? 

betarhoalphadelta

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Re: In other news ...
« Reply #22804 on: April 21, 2023, 10:50:28 AM »
They remember 2008 and the cause of it.
The cause of it was that house prices fell. 

Obviously they fell because they were artificially high (a bubble). And they were artificially high because they were giving loans to people who probably shouldn't have loans, which goosed housing demand. 

But from 2007-2010, if house prices hadn't fallen, the lenders would have been fine. They wouldn't have to cover short sales or complete foreclosures because borrowers could simply sell the home for above the value of the loan. 

A loan with 90% LTV is only risky for the lender if house prices fall. 

Is this the Biden administration trying to give lenders a boost because they know that house prices are going to crater soon?

longhorn320

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Re: In other news ...
« Reply #22805 on: April 21, 2023, 10:51:32 AM »
ok once again I ask if the fee goes to the lender what prevents the lender from adjusting his normal rate down to zero out the additional fee
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

 

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