People have low credit scores for a reason. They don’t pay their bills or pay them on time.
What makes any rational person think they won’t continue the same bad habits when it comes time to make payments on their mortgage?
When does this enabling of the irresponsible end?
I would like to congratulate brandon as the benefactor of the new housing market crash. Brandon tells 2008 “hold my beer”. Predatory kid sniffer at work.
Renters will pay for both.
That is not true, you can have a low score because you do not utilize any form of credit or you have debt to income ratio too high but are paying all your bills on time.
Low credit score does not immediately equate to people not paying their bills.
That being said I agree this is a really bad and quite stupid idea. Would much prefer to see landlords having to report home rent payments to credit agencies and all forms of FICO scores to include rental payments.
There are always exceptions to generalities. That doesn’t change the generality.
The one ding to my credit is that I don’t have a record of long term credit. I paid for my house up front and have always done the same for my cars. That said, it isn’t a very big ding. (And obviously I don’t need it for any big credit items).
That’s a national property tax. WE need to put Trump back in to put in laws that won’t let the executive branch make up there own laws without the consent of congress. That’s called tyranny! I don’t know why dems seem to love tyranny!
A nation of credit abusers with a government that abuses credit … it will not end well.
Why would anyone care about credit scores when you pay up front?
Well, for some things, like your proverbial loss leader, they make money when you pay over time but may not when you pay up front. Folks may have set themselves up on the premise of getting that interest.
I just want to say haha to every Biden voter who will get dinged by this, plus, you missed me, I don’t need credit or a mortgage. To those of you who didn’t, my condolences.
The progressive trash will go after you via imputed income because you aren’t renting.
If they get a super majority again I am gone.
So you’re grandfathered in. (Poor millennials can’t catch a break?)
Millennials voted for this. And I plan to buy a second home but I can pay cash.
Tangent:
If you have heard “home prices are still rising,” it’s true, sort of.
If you have heard “home prices are falling,” it’s true, sort of.
Median home prices are rising
–and–
The Case-Shiller home price index (which is a weighted average) is falling.
This is consistent with “Upper-end homes are still rising but middle- and low-end homes are in a slump,” which is probably happening.
Trying to time the bottom, need a place in AZ.
Well . . . as time gees by you can buy one, rent it out the them at $40/month more
(because most landlords will pass the price-increase on so . . . you win.)
I already said they missed me. They got my kids, but they voted for it, so too bad. Well, kind of got me because I will mitigate the damage to my kids and future grandkids. But I will let them sweat it for a bit.
