Thank you for this article. My initial reaction was to think a 50-year mortgage was nonsense. You helped me change my mind. I appreciate the education.
This is a ridiculous idea that not only solves nothing, it just prolongs pain, with little - very little gain.
In other words, a typical government solution to problems they’ve created.
We’re kicking the can of our fiscal insolvency down the road again, only we’ve run out of road.
Drastic and massive spending cuts, especially to top heavy entitlement programs, along with ending the suffocating regime of regulations that strangle industry in every sector are the only way we can even begin to tame the debt crisis and our near total fiscal insolvency.
A total economic collapse looms on the horizon and these band-aids on bullet wounds are never going to begin to even address that, much less have any effect.
All the right and true solutions will inflict levels of pain on people across the board, and all our politicians and representatives know that, so they refuse to even be honest about it, because they fear losing votes.
So they’ll continue to pretend and offer patch-jobs here and there, but eventually the roof is going to fall in on all of us.
It’s pay now or pay later, but pay we will regardless. It’s just a matter of how much pain anyone is willing to bear. Because sooner rather than later, we won’t even get a choice in the matter.
Color me skeptical - increasing financing will just increase housing prices (by increasing demand) similar to what has happened with student debt and college prices. Better to phase out government involvement in mortgages and student debt altogether.
It's all about choices based on personal ambitions and long term plans. If there is the built in flexibility discussed here, I can see where that initial 50 years can be shortened to 30 or less with careful planning and/or passing an assumable mortgage on to the next up and comer. And what an opportunity to tank Dodd-Frank. This is not, however, something a democrat led administration would tolerate (IMHO).
I stared with a 30 year, refinanced to 15, till I paid it all off. I don't see why the same won't happen here, starting with a 50 year. Especially with the extra guardrails.
I don't know how I missed the news of this innovation but it's an exciting one. I assume that lowered interest rates would only make the 50 year mortgage even better.
Thank you for this article. My initial reaction was to think a 50-year mortgage was nonsense. You helped me change my mind. I appreciate the education.
This is a ridiculous idea that not only solves nothing, it just prolongs pain, with little - very little gain.
In other words, a typical government solution to problems they’ve created.
We’re kicking the can of our fiscal insolvency down the road again, only we’ve run out of road.
Drastic and massive spending cuts, especially to top heavy entitlement programs, along with ending the suffocating regime of regulations that strangle industry in every sector are the only way we can even begin to tame the debt crisis and our near total fiscal insolvency.
A total economic collapse looms on the horizon and these band-aids on bullet wounds are never going to begin to even address that, much less have any effect.
All the right and true solutions will inflict levels of pain on people across the board, and all our politicians and representatives know that, so they refuse to even be honest about it, because they fear losing votes.
So they’ll continue to pretend and offer patch-jobs here and there, but eventually the roof is going to fall in on all of us.
It’s pay now or pay later, but pay we will regardless. It’s just a matter of how much pain anyone is willing to bear. Because sooner rather than later, we won’t even get a choice in the matter.
Color me skeptical - increasing financing will just increase housing prices (by increasing demand) similar to what has happened with student debt and college prices. Better to phase out government involvement in mortgages and student debt altogether.
You are out of your mind. Debt slaves all of you.
Sure, whatever you say.
It's all about choices based on personal ambitions and long term plans. If there is the built in flexibility discussed here, I can see where that initial 50 years can be shortened to 30 or less with careful planning and/or passing an assumable mortgage on to the next up and comer. And what an opportunity to tank Dodd-Frank. This is not, however, something a democrat led administration would tolerate (IMHO).
I stared with a 30 year, refinanced to 15, till I paid it all off. I don't see why the same won't happen here, starting with a 50 year. Especially with the extra guardrails.
I did the same. Trump is already lobbying to get rid of Fannie and Freddie, changing statute will require lots of slashing of Dodd\ Frank.
More choice, with guardrails: mortgages, student loans, even health insurance?
I don't know how I missed the news of this innovation but it's an exciting one. I assume that lowered interest rates would only make the 50 year mortgage even better.