In an article for the August edition of The Carolina Journal, the contributor writes “Under the location-efficient mortgage standard, a borrower’s income for mortgage qualification purposes can be adjusted up or down depending on whether the home for which the loan is to be made will “re-sult in decreased transportation costs for the household.” If not, the property owner will pay more.”
I interpret that to mean that if I buy a house that is closer to work and school, then the mortgage qualifications for income will be lower than if I buy a house further away from work and school.
Ok – so what happens if I lose my job, or my kids get re-assigned to a school further away “for diversity” reasons? And is this provision a precursor to a push towards Light Rail? Sounds to me as if incentives will be given to become more densly populated and more mass transit and more taxes and more and more and more!
Does anyone else get the felling we are playing a game with a bunch of 5 year olds who constantly change the rules and make the rules so profoundly complicated that not even they can understand them so that they can win and boastfully proclaim “See! I was right!”
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I paid tax on money I didn’t spend. There were other items I purchased that were discounted. Thankfully, I didn’t have to pay tax on the regular price. Unbelievable. I did not know that coupons are treated like cash and that the coupons reduce the total owed, not the price of the item. I learned something new. 