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  • Comment Detail

  • Date: 04/24/23
    First Name: Amanda
    Last Name: Palenchar
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AB29

  • Comment

    I wholeheartedly believe that lower income earners and those with low credit scores need more support in getting into the housing market. However, I believe the way to do that is by addressing income inequality and taxing the rich. This rule would utilize middle income home buyers to support lower income home buyers, which seems counterproductive to a society that has a shrinking middle class. No one benefitting from generational wealth requires a mortgage. These fees will be paid by middle class millennials that have been diligently paying off crippling college loan debt and who have now seen record housing inflation and increased interest rates (that so far have not caused housing prices to decline). In Denver, the average price of a home is $550k. I can’t imagine adding another dollar to a hypothetical mortgage that I already can’t afford.