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Johonny

(25,163 posts)

4. We're in real trouble when they start handing out second mortgages.

Reply to uponit7771 (Original post)

Tue Nov 11, 2025, 01:25 PM

Nov 11

Everyone I know that got in trouble took equity out in their house not understanding what that really meant.

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BeerBarrelPolka uponit7771 rampartd duckworth969 eppur_se_muova

32 replies

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Highlight:

Fannie Mae to Drop Minimum Credit Score for Homebuyers [View all] uponit7771 Nov 11 OP

Here we go again... Ocelot II Nov 11 #1

I already saw the ending to this movie. Irish_Dem Nov 11 #26

Add in 50 year mortgages, and what could go wrong? Nt Fiendish Thingy Nov 11 #2

On top of the risk this implies (as you suggest) due to parallels to the 2008 catastrophe AZJonnie Nov 11 #3

We're in real trouble when they start handing out second mortgages. Johonny Nov 11 #4

Great. Another Dem POTUS will bail out banks leftstreet Nov 11 #5

Surprising we're against people with low credit scores getting considered for a mortgage. Silent Type Nov 11 #6

I had a low credit score for years and was unable to buy a home. A HERETIC I AM Nov 11 #7

"I stopped doing the things that got me the low credit score to begin with." Maru Kitteh Nov 11 #18

That's how our credit rating died, in mountains of medical debt. hunter Nov 11 #29

Um, folks about to lose their medical insurance! MerryBlooms Nov 11 #20

Unfortunately, we all pay when these mortgages go into default Totally Tunsie Nov 11 #8

To a libertarian, there's no such thing as a negative externality Prairie Gates Nov 11 #13

Because it generally means that the borrower can't afford the loan. hamsterjill Nov 11 #10

I recall one of the most infamous tricks of the time: Totally Tunsie Nov 11 #15

Surprised you're against protecting them from lenders leftstreet Nov 11 #11

The only sacred principle is that all borrowers should have the choice to be exploited Prairie Gates Nov 11 #14

All DUrs are against low credit score holders being exploited uponit7771 Nov 11 #16

If you consider someone finally getting a house exploitation. I don't. Silent Type Nov 11 #17

Someone who can't afford it getting one? Yes ! You know that already and are talking around obvious concerns... uponit7771 Nov 11 #19

620 doesn't mean you can't afford it. You deserve an evaluation. This doesn't guarantee a loan, just consideration. Silent Type Nov 11 #21

Known known, credit worthiness doesn't express affordability, don't see the point in expressing the obvious? Bottom line uponit7771 Nov 11 #23

Trump is proposing to fix serious problems with bandaids. snot Nov 11 #31

No question it's bandaids. So was $50K for a down payment. Silent Type Nov 11 #32

This is why Grants and Grant City went out of business. QueerDuck Nov 11 #9

When these people, go bankrupt or get behind in payment all these corporate companies will snap up the housing kimbutgar Nov 11 #12

That doesn't Rebl2 Nov 11 #22

Thin credit files shouldn't disqualify otherwise qualified borrowers. flvegan Nov 11 #24

Right, no credit can be worse than bad but their earning history kicks in for housing usually. I'm not trusting these .. uponit7771 Nov 11 #25

The fear that they'll qualify borrowers they shouldn't flvegan Nov 11 #27

I Felt Very Sorry For People Last Time Around OC375 Nov 11 #28

I have seen so many young people buy more redstatebluegirl Nov 11 #30