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Fannie Mae to Exclude Unsecured Lending in Mortgage Repayment Calculations

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Right, so instead of actually doing something to address the onerous load of student loan debt which lots of people will spend a chunk of their life paying back, they are just going to pretend it doesn't exist when it comes to taking on even more debt.

I mean, why should being in a crippling amount of debt already prevent you from assuming an even greater debt burden :huh:

Brilliant.

 

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5 minutes ago, doomed said:

The minute debt stops increasing people stop being able to pay  the whole system implodes so I am not surprised at all.

 

2007 was a warm up for the big event it seems

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2 minutes ago, TheCountOfNowhere said:

2007 was a warm up for the big event it seems

It is beyond obvious this ends in complete disaster, just a waiting game now. With our election brought forward to align with French and German elections this summer could get quite hot. 

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1 hour ago, Errol said:

This is so insane I can barely even hold the idea in my mind.

Very good

1 hour ago, Sour Mash said:

Right, so instead of actually doing something to address the onerous load of student loan debt which lots of people will spend a chunk of their life paying back, they are just going to pretend it doesn't exist when it comes to taking on even more debt.

I mean, why should being in a crippling amount of debt already prevent you from assuming an even greater debt burden :huh:

Brilliant.

 

I agree words fail me.

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Fannie Introduces "Innovative Solutions" Allowing Student-Debt-Laden Millennials To Buy A Home

So what do you do when a massive student loan bubble results in crippling leverage for an entire generation of your population rendering them financially unqualified to obtain mortgage financing and their 'God-given right' to a slice of the 'American Dream'?  Well, you simply change the rules to allow mortgage lenders to ignore all that pesky student debt...anything less would simply be evil and potentially racist, sexist and all sorts of other -ist words.

http://www.zerohedge.com/news/2017-04-25/fannie-introduces-innovative-solutions-allowing-student-debt-laden-millennials-buy-h

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