Will there be a time when the banks will see that regardless of credit history, everyone needs low r
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No. Because rates are not based upon need and no one is going to lend money unless they are assured it will be paid back.
Will there be a time when the banks will see that regardless of credit history, everyone needs low rates?Banks are not a " Social Services" entity, they are a business with the goal to make profits. The answer is NO.
Will there be a time when the banks will see that regardless of credit history, everyone needs low rates?No, because it's not true. Credit should not be extended to those who have no intention of paying their bills and they are numerous.
There is nothing wrong with living within your means instead of expecting others to subsidize your greed. I'm tired of people who "need" brand new cars, a cell phone, a large home, a vacation, Starbucks every morning, and all this on $6/hr because they didn't feel like finishing high school or marrying before having kids. Then they claim they're "discriminated" against.
My sympathies are with those of us who are responsible, may not be able to get insurance through work, pay our bills on time, live frugally, and then have something beyond our control happen to us--such as a serious illness or the after-effects of 9/11. If we have financial problems it's not because we were irresponsible and that's vastly different from those with an "entitlement" mentality who will LIE on their mortgage applications--inflating their incomes by a factor of 5.
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