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house Bill H.R. 2162

Should First-Time Homebuyers Get an FHA Insurance Discount After Completing HUD-Certified Housing Counseling?

Argument in favor

American homebuyers’ low financial literacy was a contributor to the 2009 financial crisis and improving homebuyers’ financial literacy is necessary to prevent future mistakes. This bill would offer a financial incentive for homebuyers to go through certified housing counseling.

davidf's Opinion
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07/08/2019
Financial literacy counseling should be extended and available to everyone. This is an excellent way to start.
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IllWill's Opinion
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07/08/2019
Yes! Anything to ensure homeowners are making good financial decisions!
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07/09/2019
Helping people buy homes is a good thing for the economy and for society...as well as for the individuals and families.
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Argument opposed

Rather than giving FHA mortgage insurance breaks to a relatively small segment of the population, it’d be better and more effective to give all Americans, regardless of homeownership status, government-backed financial literacy education.

onevotehelps's Opinion
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07/09/2019
I applaud the idea of educating first time home buyers as a Florida Realtor. However, the reality of awarding a discount for obtaining this education, does nothing if COLA doesn’t match increase mileage rates, proceeding after the initial purchase. Look no further than senior citizens population that were homeowners for years, now returning to the work force to afford their medication and increase property tax. The American dream to be a homeowner, can become a nightmare if the wages don’t grow, to match the cost of healthcare insurance or basic food staples and medication.
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operaman's Opinion
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07/09/2019
Who will pay for the discount? A hidden fee for the taxpayers? The Government has many hands for more money. I'm sure the Constitution has these handouts in mind when it was written by the Founding Fathers.
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JTJ's Opinion
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07/09/2019
No, this is not the responsibility of the federal government.
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    Financial literacy counseling should be extended and available to everyone. This is an excellent way to start.
    Like (27)
    Follow
    Share
    I applaud the idea of educating first time home buyers as a Florida Realtor. However, the reality of awarding a discount for obtaining this education, does nothing if COLA doesn’t match increase mileage rates, proceeding after the initial purchase. Look no further than senior citizens population that were homeowners for years, now returning to the work force to afford their medication and increase property tax. The American dream to be a homeowner, can become a nightmare if the wages don’t grow, to match the cost of healthcare insurance or basic food staples and medication.
    Like (32)
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    Who will pay for the discount? A hidden fee for the taxpayers? The Government has many hands for more money. I'm sure the Constitution has these handouts in mind when it was written by the Founding Fathers.
    Like (20)
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    No, this is not the responsibility of the federal government.
    Like (17)
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    Yes! Anything to ensure homeowners are making good financial decisions!
    Like (11)
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    I have to say no as I don’t believe the responsibility rests with the government to educate people on this. If they are entering into the idea of buying a home then there are books, Internet, real estate agents etc who can provide this information and educate themselves. Because I educated myself and didn’t have to sit through some mandated course why should I be penalized 0.25%? is it really that hard to work out if you take a loan you have to be able to afford the repayments and make them on time for the duration of the loan?
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    Helping people buy homes is a good thing for the economy and for society...as well as for the individuals and families.
    Like (8)
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    Interest rates should be commensurate with risk. The last financial disaster occurred because our idiot representatives dicked with the free market.
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    No it’s time we quit giving special deals to anyone. Sorry I work for my money and I don’t get a deal because I’m not a first time buyer HELL NO
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    Wait a minute! We are talking about adults here. A realtor and a lender should explain the process and what to expect and how long it will take for approval. And, how about NO SMALL PRINT and buyers are verbally informed all along during the process. No hidden clauses or agendas that could cause financial problems for individuals. That kind of behavior should be deemed criminal as the buyer has been deceived intentionally. There is no need for counseling since individuals are adults and should be responsible and informed to best meet their obligations.
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    What an ignorant lot we are. Due to the #NannyState, wherein the government says (lies to you) they'll take care of you, and you incrementally lose all your freedoms. What the government "gives" - usually at another taxpayers forced largess - the government can take away. Rise up, citizens! Take responsibility for your own lives, before you're slaves.
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    No, the counseling should be required anyway.
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    Why shouldn’t those “too big to fail” banksters allow one fourth of one percent less on their usury? We taxpayers have paid enough corporate welfare!
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    NEVER TRUST A DEMONCRAT BILL!
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    Remember in 2008 when the federal government wanted to get involved in the private sector with mortgages? If you want this passed, do it in your own state, one size doesn't fit all!
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    I don’t think the government needs to be involved with this. This is something people need to research & ask your realtor lots of questions about anything you don’t understand
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    Financial literacy is a must and good policy.
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    The mortgage industry is regulated now to prevent another failure. The laws protect lenders and buyers.
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    Yes. Let’s help more people.
    Like (3)
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    This is a start to teaching financial literacy. It should also be a mandatory class in high school and college. We need to be teaching real life skills as well as math, language, and sciences.
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