patrick.net

What's wrong with people staying in their neighborhood? In the 2000's whining was about gentrification. Now it's bad to want to have an option to stay?

It's another publicity stunt leading up to the midterms to beguile the free shitters again. Works every time. Make promises, break promises. Give the promise publicity and legs for a while, then dismantle it after elections done.

Maybe a few will get these loans parceled out to insiders, maybe they won't. If it catches on, anyway, the Dems are just guaranteeing another wave of foreclosures in the future. Complete bullshit like the easy loans that led up to 2008-9.

I still remember after Obama was elected the interviews of blacks who were waiting for their mortgages to be forgiven as promised. They are still waiting.

Short BOA stock?

I mean this is bound to end badly for everyone involved. And you know why.

The loans require no mortgage insurance...

So it's even worse than I thought.

It's this essentially reverse redlining?

Ceffer says

Maybe a few will get these loans parceled out to insiders, maybe they won't. It if catches on, anyway, the Dems are just guaranteeing another wave of foreclosures in the future. Complete bullshit like the easy loans that led up to 2008-9.

correct the BLM captains will get houses with no boc loans.

It's a total scam. It's properties in places nobody would ever want to buy in, limited to specific neighborhoods in Miami (not in Brickell of course), Baltimore, etc.

They'll have DemActivists buy these properties and then rent them out to HUD or hold them as nominees for wealthy investors who believe the neighborhood might turn over in a year or two and gentrify.

It's like Book Publishers channeling money to politicians, BOA is doing this for bribes to City Council and other Dem Pols.

DIVERSITY!!1! may also be an excuse to shore up existing souring loans to these neighborhoods. This will juice demand, raising property values. If values rise enough, they stop caring if someone defaults because they can just sell the home to get their money. Oh, and sell the MBS to one of those woke funds that only invests in "non-whyte supremacist stuff".

In some short years you'll see "news" articles about how some black family sold their home into the surging demand, netting a tidy profit, and how it changed their lives are gave them the good life. Anyone who opposes these lending policies will then be made out to hate black success stories. Once these policies are enacted for a short period of time, it will be just like handouts - you cannot take it away without causing a prices/wealth and "ruining" a POC's life, you hateful racist.

Patrick says

How many off them became millionaires only after being elected to office?

Good question.