Oklahoma land rush revisited: CA will pay 20%, zero interest, down for new low-income home buyers. Program limit $300M so need may set eligibility; only destitute need apply

Posted by bubah1mau 1 month, 2 weeks ago to Economics
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How long can they live there before getting kicked out after failing to make regular mortgage payments? Sounds like a win-win for losers--and maybe a set up for a new sub-prime mortgage crisis if other Dem states do a ditto.
SOURCE URL: https://www.zerohedge.com/personal-finance/california-front-20-down-payments-0-interest-homebuyers-incomes-211000

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  • Posted by Lucky 1 month, 2 weeks ago
    The State of California is in the front rank in getting everything wrong.

    Subsidy available for applicants making under $211,000 pa- that would include a good many would it not? A coming restriction could be that an applicant be a descendant of a slave, no they will not do that, Irish to mention one and many many others in that group.

    The program could get off to a good start as is often the case when giving out money. Then they package up the loans and sell to investors.
    I see bubah1mau is ahead of me on that one.
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