As Paul Harvey would say : "And now for the rest of the story". In
his last week in office, B. Obama instituted a myriad of changes whose
consequences would fall upon the shoulders of incoming POTUS, Donald Trump. Included in these
"for the people" changes were a 1/4 % decrease in mortgage insurance costs
(not mortgage rate) for
first-time home buyers with only a 3.5 % down payment at their disposal. It's interesting to note that Obama did not institute this "change" a year or two ago .. or perhaps three or four years earlier during his own presidency .. but it is easily discerned as to why he didn't. He didn't because he knew that this action greatly increased the risk of yet another bank bail-out for mortgage holders at the cost of the tax paying public. Everybody knows ..
or should know the burden this placed on the taxpayers last time around. The role of this insurance fund serves as a guarantee for money lent to those institutions who take on these higher risk mortgages ..
and actually make it more viable for those with little money to put down to actually purchase their first home. No insurance guarantors ... no low down payment homes purchased. It is that simple. Would you yourself lend money to someone that carried a high risk of no return ? Of course not. Pretending to "care about the people" is easy .. and is intentionally and deceptively misleading when the burden of such irresponsibility falls upon the shoulders of somebody other than yourself. This is how your former president (and liberal democrats) roll. He would have done it during his own presidency if he honestly thought it was a "good idea". He knew it wasn't .. and didn't care. Same intent with his newly instituted "sanctions" against Russia. If Trump seeks to work alongside Russia in the future for a worthy cause, the liberal press can now easily dupe it's readers into believing that Trump is a "traitor" .. or a communist .. or some other ridiculous claim to help serve their own deceptively corrupt and dishonest means of working the political system. And apparently, there are multitudes willing to fall prey to it, like yourself. Do yourself a favor and educate yourself. You make yourself look foolish .. and unlearned. BTW .. this "increase instituted by Trump
" that you speak of unknowingly is approximately $10 a month on a &100,000.00 mortgage. If that's enough to prevent a homeowner from making their payments, they have no business purchasing a home.