A neighbor of mine is a real estate broker. One of his real estate closings just got delayed because of the new FHA FICO Score Tax on real estate buyers.
The buyers now have to come up with another $4,500 at closing to pay the new tax. The buyers don't have $4,500 in cash - in addition to down payment, property tax escrow, first month's mortgage payment, PMI insurance, title insurance, home inspection, etc. - to pay the new FHA FICO Score tax.
Many home buyers don't have an additional $4,500 cash between sofa cushions to pay for the new tax.
The dimwits responsible for this new tax have made housing less-affordable for more working-class Americans. They've made the housing affordability crisis worse for more home buyers.
Way to go, Lieberals.
