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Connie

Member

January 24, 2025 at 7:04 pm in reply to: Colorado Supreme Court Bans Trump From 2024 Ballot

I’ll share my own reasoning and implications regarding the Colorado Supreme Court ruling on former President Donald Trump, which you shared with me, along with some context.

Context of the Ruling

Legal Basis:

This ruling stems from a “Legal Basis” in Section 3 of the 14th Amendment.
This amendment states that if a person is a former member of a public office and has been involved in an insurrection against the United States, that individual cannot hold public office.

January 6th Insurrection:

On January 6th, 2021, an unprecedented mob entered the United States Capitol.
The following events led to multiple lawsuits against Trump.
Based on the actions of January 6th, the court decided that there was adequate proof connecting Trump’s actions to the insurgence.

Dissenting Opinion:

The 4-3 vote suggests a wide split within the court.
The dissenting judges might have raised questions related to the potential outcomes of disqualifying a presidential candidate.

Implications of the Ruling

Appeals Process:

Trump’s aides will not be surprised at the higher court decision and will appeal it to the federal court, expecting it to change and favor him.

Impact on the 2024 Election:

If upheld, this ruling may complicate Trump’s ability to run for president on his behalf in other states, as similar cases may arise elsewhere.

Political Ramifications:

The ruling could galvanize Trump supporters and opponents, affecting the balance of power during the 2024 presidential elections.

Public Reaction:

This ruling would generate highly polarized views among the people, with two extremes of the spectrum charging one side to have too much power and the other side of the spectrum.
However, Trump supporters will view this much differently.

Next Steps

Appeal Monitoring:

We are waiting for an update on whether his legal representatives have submitted an appeal and the reaction from the higher courts.

State and National Actions:

How will the other states react to this ruling, and what will they propose in legislation?

Statements Made by the Public:

Statements made by Trump, his allies, and opponents will best indicate the country’s politics before the 2024 elections.

I suggest visiting reliable news sources for updates on new developments regarding legal proceedings and politics.

This reply was modified 2 months, 1 week ago by Connie.

Connie

Member

January 23, 2025 at 5:48 pm in reply to: Headline News for Thursday January 23rd 2025

Can you please give me other fires after the Pacific Palisades Wildfire in Los Angeles County? I know there was a wildfire in Ventura County, California, and the Hughes Fire. Are all of these fires related to the Pacific Palisades Wildfire, or are they separate incidents? Can you tell us about the price gouging tactics discplayed in Los Angeles County?

Connie

Member

January 9, 2025 at 8:14 pm in reply to: Qualify For Loans

Specific requirements are needed to qualify for an FHA loan during or after bankruptcy, especially for those who have made more than twelve consecutive payments. Here is what you typically need:

Time since Bankruptcy Discharge

Chapter 7 Bankruptcy:

You should wait at least two years after the discharge date.

Chapter 13 Bankruptcy:

If you have received court approval, you may qualify after making one year of on-time payments under your repayment plan.

Credit Score Requirements

Minimum Credit Score:

Some lenders require a higher score, particularly if you just came out of bankruptcy.
However, FHA guidelines permit scores as low as 580 with a 3.5% down payment.
Often, a score of 620 or higher is preferred.

On-Time Payment History

Payment History:

It is important to have solid proof of on-time payments since your bankruptcy.
According to your credit report, if creditors made over twelve back-to-back payments in time, this will positively affect your application.

Debt-to-Income (DTI) Ratio

DTI Ratio:

Generally, your total monthly debt payments (including housing costs) should not exceed 43% of your gross monthly income.
Nevertheless, depending on compensating factors, the lender may make some exceptions.

Down Payment

FHA loans usually need a down payment of 3.5% or more just in case your credit score is 580 and above. If it falls between 500 and 579, you must pay down 10%.

Stable Income

Income Verification:

You must prove that you have a stable source of income, no matter what job you have.
Examples include paychecks, tax records, or other documents showing where the money originated.

Employment History

Job Stability:

Financing institutions normally ask for at least two years of continuous employment in the same industry or trade.
Lenders can see gaps in employment or constantly moving jobs as a red flag.

Compensating Factors

Other Strengths:

Large savings accounts, big initial deposits.
Strong job records can assist with overcoming doubts about your eligibility regarding creditworthiness.

Counseling and Documentation

Housing Counseling:

After filing it with the court, you may need to attend at least one housing counseling session with a HUD-approved counselor as part of the program conditions and considerations associated with the bankruptcy confirmation process.
So that they know you are interested in learning how mortgages work and managing money after filing for bankruptcy.

Documentation:

You must produce well-documented evidence concerning your bankruptcy details, past payment patterns, income sources, and asset accumulations, similar to what you did for your earlier home loan application(s).

You must satisfy general requirements to get an FHA loan during or after bankruptcy. These conditions include an acceptable period since discharge, a favorable credit score, a good record of on-time payments, a low DTI ratio, availability of a down payment, steady income, and employment history, among others. You can prove your financial groundings by showing that you have been doing well since your bankruptcy. Always check with specific lenders for their requirements, which may differ from the standard ones in this article.