htownbrown Posted September 5, 2022 Report Share Posted September 5, 2022 https://newsroom.bankofamerica.com/content/newsroom/press-releases/2022/08/bank-of-america-introduces-community-affordable-loan-solution--t.html Quote Link to comment Share on other sites More sharing options...
nickers Posted September 5, 2022 Report Share Posted September 5, 2022 29 minutes ago, htownbrown said: https://newsroom.bankofamerica.com/content/newsroom/press-releases/2022/08/bank-of-america-introduces-community-affordable-loan-solution--t.html That's RACIST! Quote Link to comment Share on other sites More sharing options...
htownbrown Posted September 5, 2022 Author Report Share Posted September 5, 2022 4 minutes ago, nickers said: That's RACIST! I'm less worried about that, than the super subprime mortgages and possible bailout down the line. Honestly, you could give me $0 down and $0 closing and I still wouldn't want to 'gentrify the trap'. If you read closely, the target group seems to be 'undocumented buyers'. 1 1 Quote Link to comment Share on other sites More sharing options...
Vambo Posted September 5, 2022 Report Share Posted September 5, 2022 They can't afford to pay student loans so they will give the home loans? 1 Quote Link to comment Share on other sites More sharing options...
nickers Posted September 5, 2022 Report Share Posted September 5, 2022 32 minutes ago, Vambo said: They can't afford to pay student loans so they will give the home loans? Yeah but what happens if you're black and vote republican?? Quote Link to comment Share on other sites More sharing options...
calfoxwc Posted September 5, 2022 Report Share Posted September 5, 2022 34 minutes ago, nickers said: Yeah but what happens if you're black and vote republican?? if they find out, you don't qualify because it's about voting democrat - buying votes as a last resort before midterms, because the polls show they are so corrupt, they will lose big. 1 Quote Link to comment Share on other sites More sharing options...
DieHardBrownsFan1 Posted September 5, 2022 Report Share Posted September 5, 2022 Isn't this how the last recession started? Quote Link to comment Share on other sites More sharing options...
FairHooker11 Posted September 5, 2022 Report Share Posted September 5, 2022 Interesting that it was during Clintons last term, for lenders to give easy home loans with adjustable rates to anyone. So easy that the underwriters looked the "other way" regarding income / employment. AND it was BoA that assumed these failed loans by Countrywide and others. (Helped largely by TARP in 2009.) So maybe because the latest Huge bill just passed, and finding that this money has to find a vehicle in which to move, comes this built in time bomb for the next POTUS adm. ? (Ref GW Bush) 1 Quote Link to comment Share on other sites More sharing options...
htownbrown Posted September 5, 2022 Author Report Share Posted September 5, 2022 20 minutes ago, FairHooker11 said: Interesting that it was during Clintons last term, for lenders to give easy home loans with adjustable rates to anyone. So easy that the underwriters looked the "other way" regarding income / employment. AND it was BoA that assumed these failed loans by Countrywide and others. (Helped largely by TARP in 2009.) So maybe because the latest Huge bill just passed, and finding that this money has to find a vehicle in which to move, comes this built in time bomb for the next POTUS adm. ? (Ref GW Bush) That's a possibility 1 Quote Link to comment Share on other sites More sharing options...
FY56 Posted September 6, 2022 Report Share Posted September 6, 2022 8 hours ago, Vambo said: They can't afford to pay student loans so they will give the home loans? Not a big deal. It's called mortgage loan forgiveness. Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted September 6, 2022 Report Share Posted September 6, 2022 19 hours ago, htownbrown said: I'm less worried about that, than the super subprime mortgages and possible bailout down the line. Honestly, you could give me $0 down and $0 closing and I still wouldn't want to 'gentrify the trap'. If you read closely, the target group seems to be 'undocumented buyers'. The road to hell is paved with good intentions. And that's giving them the benefit of the doubt. Anybody remember the last housing crash? Zero down financing for more than the equity to put a few bucks in your pocket no paper loans? Unfortunately redlining was instituted for a reason. WSS Quote Link to comment Share on other sites More sharing options...
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