[quote=sdrealtor]A highly specialized physician who has sacrificed spending 4 yrs in college, 4 years in med school, a year in residency and then a few more in fellowship comes out with much educational debt but a mid 6 figure income. These people often have young families and have lived with sacrifices far beyond what you have made. Their time has come and there should be mortgage loans for them.[/quote]
sdr, I’m still somewhat “troubled” by your lofty “professional `Ivy League’ physician” example here. Are you stating here that “We the People,” (as davelj would say) should assist this person in obtaining a low-downpayment government-backed mortgage loan because he or she has “much educational debt” and therefore cannot save a proper downpayment to buy a home? Can you tell us, if you know, if your “physician” example may have or could have received his or her $100K ++ in “student loan” assistance from “Sallie Mae” funded by “We the People?” With a “mid 6 figure income,” what’s stopping him or her from retiring this debt, forthwith?? And, I don’t want to hear the excuse that he/she “has a young family.” A 14-year old flunking out of 9th grade can “have a young family.”
All the taxpaying minions and “worker bees” (as you call them) in the country who didn’t borrow copious amounts from “We the People” in order to obtain a lofty “degree” and thus don’t have one are currently going thru the “wringer” for a mortgage loan qualification so folks like your newly-minted “physician” friend can be considered for a low-downpayment homebuyer program, lol . . . what a joke!
IMHO, there’s something fundamentally wrong with that constellation. Why should “We the People” CARE whether your indebted physician friend gets his “deserved dream property” with little down, or not?? Indebted students with eventual “professional” high incomes who cannot, or, more likely, REFUSE to retire their student loans give future student-loan borrowers a bad name.
What’s good enough for minions and “worker bees” to buy and live in is ALSO good enough for heavily-indebted “professionals” to buy and live in, as well, IMHO. Or perhaps these heavily indebted “professionals” should just keep renting …. that is, until they see fit to retire “We the People’s” debt they took out, ostensibly to obtain their “high-paying” positions that the rest of us can’t “qualify for.” :=(
