Today is Friday, 26th April 2024

Buy a house and the city will pay your Credit Card Bills!

This is insane.  The number of comments on both the Free Republican website and the Houston Chronicle are off the hook.  What’s more, 55% of Americans say government mortgage help encourages bad behavior. From the Free Republic:

Houston taxpayers could start footing the bill to help first-time home buyers pay off debts and improve their credit scores, under a proposal before City Council this week.

The “Credit Score Enhancement Program” will give up to $3,000 in grants to individuals who are trying to qualify for mortgages through the city’s homebuyers assistance program. City officials say some applicants fall short of eligibility by only 10 or 20 points on their credit scores, and paying off some debt balances can quickly improve their numbers.

Read the Rest…

And we have to wonder what would Rick Santelli have to say on this one?  Similar to what he said from Chicago last week?

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