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On Day 1, Donald Trump Raises Government Fees for Low-Income Mortgage Holders

In his last months in office, President Barack Obama acted to lower mortgage insurance fees for low- and moderate-income homeowners.  By lowering the government’s FHA mortgage insurance fees by $250 a year for a $100,000 mortgage, President Obama acted to make home ownership more possible for working-class and middle-class Americans.

Private mortgage insurance corporations didn’t like that change. If the U.S. government could provide FHA mortgage insurance to Americans, why would people buy higher-priced private mortgage insurance, after all?  Obama’s move to help working-class and middle-class Americans threatened real estate financiers’ profit margins.

And so, on his first day in office as president, Donald Trump signed an executive order to raise FHA mortgage insurance fees right back up.

If you thought a President Donald Trump was actually going to fight for the little guy, well, he just showed you his true character in action.  As Republican politicians cheered, he gave you a knee to the groin instead.

On First Day in Office, Donald Trump Takes Away the Dream of Home Ownership

4 thoughts on “On Day 1, Donald Trump Raises Government Fees for Low-Income Mortgage Holders”

  1. J Clifford says:

    The effect of this is like a tax hike – a Republican tax hike is the first thing we see from Donald Trump.

    Promises, promises!

  2. Tom says:

    According to news sources I was viewing yesterday ….Trump signed 4 orders…..non of which dealt with this issue?
    What did I miss?
    What was the action he took?

  3. Jason says:

    If this is true, and you don’t want to pay a higher mortgage insurance rate, save and put down 20% like everyone else… struggling/working hard makes it so much better when you achive a goal… work hard for the things you want in life, that is the American way….

    1. J Clifford says:

      Wait, what?

      You think that the role of government is to increase the prices on things, and to make it more difficult for people to achieve their goals?

      Really?

      If you believe that it makes people happy when the Trump Administration forces them to struggle more in order to achieve the same economic goals, Jason, then you ought to support charging corporations a higher tax rate, just in order to increase corporate morale. Of course, that’s if you’re being logically consistent.

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