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Comment

This is entirely and utterly absurd. There is absolutely no good or even moderately reasonable argument for why this should have even been discussed unless it were completely satirical. Charging people who worked hard to maintain good credit to subsidize those who foolishly wasted and squandered their opportunity is NOT helpful or productive. It's outrageously unfair to the people who did the right thing (maintained good credit), and it's offensive on every front to force the responsible to pay for the irresponsible. It's the farthest thing from "equality" or "leveling the playing field" because race/gender/etc. have NOTHING to do with credit score. A credit score is based upon what one does with their money, whether they have a lot or a little. Trying to rob the responsible to puff up the irresponsible is insanity at its finest. I want an explanation based on sound financial or fairness logic that doesn't appeal to socialism, discrimination against the responsible, and outright legalized illegal stealing. This policy is NOTHING short of stealing. It's stealing from the people who acted responsibly and add value to society and giving free hand-outs (funded by robbery) to those who willingly chose to not act financially responsible. In addition, imposing a fee for a larger percentage down is equally outrageous because it encourages people to be poor. It incentivizes higher risk, penalizes people who saved to avoid mortgage insurance, and again props up those who are likely not in a financial position to afford housing. I hesitate to throw insults, but after researching the issue, I can't think of a more appropriate word for those who suggested/instigated this policy than the term "moron." Did the morons who conjured this terrible policy consider the effect of "helping" underqualified people get a mortgage, when this is the very thing that caused the Great Recession of 2008? If a person cannot get a mortgage loan due to bad credit and/or insufficient finances, they're far more likely to default on the load. Government should get it's horrible hand out of financial free-markets and stop passing policies that fight against hard work, responsibility, and adequate preparation. Again, this policy is nothing short of blatant robbery, and worse, it's robbing the people who acted well to support those who were foolish. I am utterly shocked that we have people in positions of power that could even suggest such a rash and unreasonable policy, let alone implement it without using what little brain power they must have. I understand that in writing this, I am coming across very harsh and direct, and I fully intend that. This policy MUST be reversed and those responsible for its passing need to be removed from their positions immediately. Please provide me with a more direct way to speak with whomever I can to get this repealed. The fate of the true American Dream, patriotism, and what little faith we can have in government depends on it. Democracy has been defeated and the checks and balances of our government have failed us in this. I demand this policy be brought before the Supreme Court where there are some sensible judges who can annihilate this unconstitutional policy and, if possible, imprison the thieves who put this in place.