'SOCIALISM FOR HOMEOWNERS': Biden set to punish owners with good credit

FOX Business' Maria Bartiromo, Former Chrysler Chairman and CEO Bob Nardelli, The Washington Examiner editor Kaylee McGhee White and Strategic Wealth Partners CEO Mark Tepper discuss the Biden administration's plan to redistribute high-risk loan costs to homeowners with good credit.

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.

[artworkbyjeff]

People with bad credit get a discount ? In what world does that make sense ?

[deborahd.]

Taking the risk off the banks and give it to hard working individuals...is wrong.

[shellylofgren]

As an elder millennial, one of the few advantages is having lived through the Great Recession. My advice. Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell. One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world.

[seanhumphreys]

This seems criminal to me to add an additional "tax" onto a home loan to punish people who have done all of the right things. Seriously, how is this legal?

[beautifulfaith]

Someone get that man out of the White House.

[JDog_Unchained]

This is absurd. Why would you punish people for managing their finances better

[christopherstimpson]

Same as welfare. Working people must pay taxes for those with 10 kids and no job.

[handimanjay]

It took 40 years to get our credit scores over 800 which today means nothing.

[suburbankaren]

First it was student loan forgiveness, now its "help others to buy their home." Umm, no.

[narcissisticcapitalist]

Finally I have a reason to let my credit go to sh*t and live the irresponsible carefree life I always dreamed of.

[emandawatts]

The whole world is just laughing, watching America crumble. This is unfathomable!

[docsavage]

Once again our government looks for ways to punish those of us who follow the rules and go to work and stay out of trouble and pay our bills.

[rayshepherd]

The 2008 crash was caused by the same type of government intervention. The government pushed banks to make risky loans.

[arthurbrumagem]

And those poorer home owners will default again as before.

[patrickmiles]

Isn’t this similar to the policy used back in 2007 - 2008? I’m pretty sure America remembers how well THAT worked😡

[deannelynn]

These people worked for a good credit rating

[megamikkila]

I bought my Home during Trumps last year in office. Paid a handsome $190k.
With Inflation it is now valued at $379k Today I would NOT be able to afford this home. Mortgages would be double.
Thank You TRUMP! LOVE MY HOME.

[joeyrigsby]

Worked two jobs to pay off debt and buy my first home and now I got to pay extra for those that dont

[lorigarza]

This is a sneaky way of snuffing out home ownership. They know people will lose these houses and they can shck them all out for rental properties. It is ridiculous.

[bazil]

Never would I witness a government that would punish people for Hard work