@htownbrown said:

I'm less worried about that, than the super subprime mortgages and possible bailout down the line.

Honestly, you could give me $0 down and $0 closing and I still wouldn't want to 'gentrify the trap'.  

If you read closely, the target group seems to be 'undocumented buyers'.

The road to hell is paved with good intentions. And that's giving them the benefit of the doubt. Anybody remember the last housing crash? Zero down financing for more than the equity to put a few bucks in your pocket no paper loans?

Unfortunately redlining was instituted for a reason.

WSS

@vambo said:

They can't afford to pay student loans so they will give the home loans?

Not a big deal. It's called mortgage loan forgiveness.

@fairhooker11 said:

Interesting that it was during Clintons last term, for lenders to give easy home loans with adjustable rates to anyone. So easy that the underwriters looked the "other way" regarding income / employment. AND it was BoA that assumed these failed loans by Countrywide and others. (Helped largely by TARP in 2009.) So maybe because the latest Huge bill just passed, and finding that this money has to find a vehicle in which to move, comes this built in time bomb for the next POTUS adm. ? (Ref GW Bush)

That's a possibility 

@nickers said:

Yeah but what happens if you're black and vote republican??

if they find out, you don't qualify because it's about voting democrat - buying votes as a last resort before midterms, because the polls show they are so corrupt, they will lose big.

@vambo said:

They can't afford to pay student loans so they will give the home loans?

Yeah but what happens if you're black and vote republican??

@nickers said:

That's RACIST!

I'm less worried about that, than the super subprime mortgages and possible bailout down the line.

Honestly, you could give me $0 down and $0 closing and I still wouldn't want to 'gentrify the trap'.  

If you read closely, the target group seems to be 'undocumented buyers'.

@htownbrown said:

https://newsroom.bankofamerica.com/content/newsroom/press-releases/2022/08/bank-of-america-introduces-community-affordable-loan-solution--t.html

That's RACIST!