2022-04-08 at 8:25 PM UTC
Courts don't like cookie cutter rules.
If two twins in an identical car at an identical intersections hits an old lady, one not paying attention and one with intent to harm, the judgement is made on assessment of what happened
So why is the government paying off mortgages or student loans for people who never missed a payment?
That's not only cookie cutter logic but it makes no sense. If someone paid every payment on time then they didn't struggle. Wouldn't someone who had say 5 years on time then hit hard times and showed they fell behind because lost of job but then picked back up when employed and caught up but then hit hard times again can have their loans paid off?
Or if they paid 15 out of 30 years on time or caught up on payments? This way the banks who want 3/4ths of interest paid first 12 years before slowly shifting to 50/50 interest vs principle vs 3/4th principle and 1/4th interest payments before government paying it off so mortgage payment goes to 401k or towards your retirement or be circulated in aiding the economy of you buying more goods.
It's like me getting lower interest rates as my fico score goes up, not down.
I pay my debts off to 0 in 2-3 days after purchase now. No more living off of interest debt. It's insane
25% interest rates means if you default because lost of work, sick or crippled suddenly, a loan of every 1 dollar will double in 4 years, in 8 years will be 4 dollars and 12 years will be 16 dollars for every 1 dollar you borrowed. It compounds
If 33% a credit card would do that every 3 years instead of 4.
0 interest rates are only for people with 250k in invested or savings linked.
False Joo Logic n Based
