new Biden rule to penalize homebuyers with good credit | Eastern NC Now

This is what the far left now calls "equity".

The Biden regime has a new rule that will be in effect May 1, that will charge homebuyers and refinancers extra fees in order to subsidize those with bad credit who want to buy homes.  The fees will amount to about an extra $500 per year for those with good credit to subsidize the deadbeats.  Biden is imposing this unilaterally by executive authority without any action by Congress.

https://www.zerohedge.com/personal-finance/biden-punish-good-credit-homebuyers-subsidize-high-risk-mortgages

https://www.breitbart.com/politics/2023/04/20/biden-rule-forces-good-credit-homebuyers-to-subsidize-loans-to-higher-risk-borrowers/

This fits right in with Karl Marx's dogma of "from those according to their ability, to those according to their need."   The whole "equity" push by the Biden regime is nothing but thoroughgoing Marxism.