That's a series of questions, but not an answer. I can infer, but I'd like you to actually explain the alternative? Just, take the purchase price and divide it by 360 and call it a day? And what if they miss a payment, or don't pay it off in 360 months? Interest controls for all of that.
Are you really pretending that banks are fronting the risk on home loans? What happened the last time banks took a hit on home loans? Again, government socialized the risk.
No, I'm not pretending anything. I'm literally just trying to hear you out and I'm asking you questions that I'm genuinely interested in hearing your answers. I think the problem is you have incorrectly assumed I'm acting in bad faith.
I did answer you an answer. Again. Banks have zero risk giving out home loans, pretending otherwise is a complete rejection of recent history and how government has worked over the past 60 years. In fact, banks, under the law, made more money forcing fraudulent foreclosures than maintaining loans because the government immediately gives banks the “lost” revenue in deductions while the banks actually profited from previous payments on pure interest plus liquidation of the mortgaged homes.
Okay then my apologies but maybe I am missing your answer. My question: what is your proposal for people who don't have cash on hand equal to the full value of the listed price?
That's a series of questions, but not an answer. I can infer, but I'd like you to actually explain the alternative? Just, take the purchase price and divide it by 360 and call it a day? And what if they miss a payment, or don't pay it off in 360 months? Interest controls for all of that.
Are you really pretending that banks are fronting the risk on home loans? What happened the last time banks took a hit on home loans? Again, government socialized the risk.
No, I'm not pretending anything. I'm literally just trying to hear you out and I'm asking you questions that I'm genuinely interested in hearing your answers. I think the problem is you have incorrectly assumed I'm acting in bad faith.
Would you mind answering my questions, please?
I did answer you an answer. Again. Banks have zero risk giving out home loans, pretending otherwise is a complete rejection of recent history and how government has worked over the past 60 years. In fact, banks, under the law, made more money forcing fraudulent foreclosures than maintaining loans because the government immediately gives banks the “lost” revenue in deductions while the banks actually profited from previous payments on pure interest plus liquidation of the mortgaged homes.
Okay then my apologies but maybe I am missing your answer. My question: what is your proposal for people who don't have cash on hand equal to the full value of the listed price?
What exactly is your answer?