Here we go again.
Sweet, the new generation of NINJA loans
So does this mean redlining is okay now?
This did not work the last time it was tried. Almost instant uptick in walkaways and foreclosures as the new “homeowners” suddenly realize there is no landlord to call up and gripe at.
Home ownership is not the economic panacea it is made out to be. And even after the mortgage is paid off, monthly housing costs do not decline by all that much, as the upkeep keeps on mounting.
Well, interest rates suck right now and headed higher, so I wouldnt refinance now even if I were offered zero closing costs, zero down. So as a white guy, I dont feel offended. That said...
This is a stupid decision on BoA’s part. Probably incentivized by the present radical government. and of course it wont end well. The only winner in this will be the banks with all the foreclosure properties they will acquire on the cheap, and thats not really a win.
That’s was my first thought as well - here comes 2008 mortgage crashes again
Brace yourself for another libtard flop
Didn’t they do this during the Clinton Era which later ended up causing the 2008 bail out?
...of course if you or I did it, it would be called "counterfeiting"...and we'd go to jail.
There is an endgame to explain all this (financial) madness/fascist threats to political opposition...that seems to be heading us towards a...
1.) cashless(controlled)society
2.) demolishing the Republic/creating another third world(controlled)sh*thole.
But if you’re a successful business, BofA doesn’t want you... go woke go broke. It looks like they are on their way.
BofA just closed my Daughters business account for no apparent reason. Held her 200K cash. They said they would mail a check within 2 weeks. It’s been over a month now with no access to her money!
Is there one single adult on the board of this bank that has a memory longer than a fruit fly?
I’m sure they will go into the mortgage. So they will pay on it for 30 years. The bank is thrilled. The homeowner is oblivious. Win-win.