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to whom is "pay money longer" supposed to appeal?
the 40 year old buying their first house?
Sounds like a debt treadmill
to whom is "pay money longer" supposed to appeal?
the 40 year old buying their first house?
https://www.housingwire.com/articles...affordability/While the longer mortgage term does reduce the monthly payment, it also reduces the amount of equity homeowners build and at some point, the savings are minimal — as you see between the 40- and 50-year terms above.
There is also a legal obstacle to a 50-year mortgage. After the great financial crisis, Congress passed the Dodd-Frank Wall Street Consumer Protection Act which made mortgage underwriting stricter. The Qualified Mortgage (QM) rule is part of that legislation and does not currently allow a 40- or 50-year mortgage, so that would have to be changed for this proposal to get widespread adoption. It’s possible that a 50-year mortgage could be offered by lenders as a non-QM mortgage, which typically comes with higher mortgage rates to balance out the risk.
The drop in equity is one reason HousingWire Lead Analyst Logan Mohtashami doesn’t like the idea.
“I understand that we have housing affordability challenges in America, but subsidizing more demand from 30- to 50-year mortgages is not the policy we want to take now. Housing has to balance itself out through slowing home-price growth and wages increasing — as it has for many decades. To add another subsidization to the market just prevents that healing process from occurring, which also prevents less equity build out as well. So I am not a fan of any increasing in the amortization, the 30-year fixed is perfectly fine as is.
“Additionally, a 50-year mortgage is currently illegal under the qualified mortgage law, so that would have to change as well,” Mohtashami said.
Basically renting your house forever, but you pay for the repairs.
A 50 year mortgage you're buying your own tomb lmao
So your against 30 year loans for the same reason right?
40% less against
Maybe the numbers look the same to you. I'd believe that.
Hey, Wine Ho...tell me how much we have as a nation giving illegals free healthcare and housing since youre talking about debt.....lmao
Ramble scooter asking others to do their homework for them
not sure what you're talking about
does it relate to this thread?
the difference between 30 and 50 years is nontrivial
how long do people live, how does that change the risk profile of the mortgages and how much longer does it take to build equity with a 50 year note?
Of course you dont know what im talking about....and of course it doesnt relate to the thread because all you do is bash Trump and republicans.....you dont want to post the bull democrats bring to the table. You, Chump, and Blake.....just the last of the democrat posters on here....the 3 amigos. I like watching ya'lls meltdowns.....
if you can't say what you're talking about, so much the worse for whatever you were trying to say
Two paid off houses.
If you choose a long mortgage, that's on you.
hit the snooze bar Darrin, you're brain dead
lol. Trump’s response to the affordability crisis is a 50 year mortgage?
50 year loan is for re s. So is a 30 year loan.
Well it’s your gods best response to the fact that young people can’t buy homes .
Trump says it's a great idea.
Do you think Trump is re ed?
Why stop at a 50-year mortgage? Let's go full dystopia and make it a 150 years, with your debt lovingly passed down like an heirloom of financial despair. Generation after generation, working not for wealth, but for the privilege of almost owning drywall. Why own a house, when you can haunt it?
Lifelong debt payer to BlackRock and Vanguard. Lmao how sad.
Nobody knows what you're talking about. You're just rambling.
So everyone should be able to do it!
It's on you if you can't, re !
It's true though. Those who deem themselves victims will never see success in themselves and thus hold grudges against those who broke free from victimhood. You running cover for those who and moan is in your DNA because that's all you do here while also proclaiming everyone but you rambles incoherently. You add zero substance to any and all conversation here on ST.
You are the re , BlaKKKe.
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