Per Stuart Varney reporting this morning on FoxNews, lenders would have to certify that prospective buyers can actually afford the new mortgage payments.
lol
This whole housing loan fiasco for the last 2 decades has sounded like something out of satire or insanity.
We do live in an alternate reality. It sure isn’t the reality many of us now in our 60s grew up in.
“Per Stuart Varney reporting this morning on FoxNews, lenders would have to certify that prospective buyers can actually afford the new mortgage payments.”
Anyone with any knowledge of the industry would realize that is nothing new. It’s called underwriting!
As if it is the banks that had a choice in the matter.
We do live in an alternate reality. It sure isn’t the reality many of us now in our 60s grew up in.
Our politicians are a like a deadbeat that has just discovered no one is stopping him from writing hot checks. We have full-blown economists with PhDs who have no idea what happens when you print money without restraint.
And a majority of Americans voted to give those clowns ever more political power. We are in free fall and we think we are OK because we haven't hit the ground yet.