Quote:
Originally Posted by closetgeek
The logic is, don't borrow what you can't afford. There are plenty of low to moderate income folks who also happen to have good credit. High risk borrowers (myself included as my credit score sets off alarms) are not victims of anything more than wanting more than they can afford.
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If those that are credit worther paid more as they are low risk (they can afford it) this would help those that are high risk to afford loans/mortgages at a cheaper rate.
If you can ill afford a loan or mortgage rate why should you pay more for it to supplement those on the opposite end of the scale ?