Crime Trump, 50 year mortgage?

[N13]

Its basically a coalition or banks. For better or worse bankers run this country.

But tbf this type of system does sort of
maximize economic stability since they basically have the most to lose in an economic collapse

The stock market had a bad day and the reason seems to be that the Federal Reserve indicated that they might not cut rates in December.

 

[Scott Stapp]

When the least stupid thing out of your mouth is still the dumbest thing I've ever heard...

 

[N13]

When the least stupid thing out of your mouth is still the dumbest thing I've ever heard...

What is the dumbest thing you ever heard of ?

Got to be even worse than flat earth theory.

 

[UFCUCF]

So why not go to an “infinity year” mortgage?

(We could also call it interest only)

 

[Scott Stapp]

What is the dumbest thing you ever heard of ?

Got to be even worse than flat earth theory.

Would you put Tartarians in the flat earth category? That still only moderately stupid for modern times. Anyway...

Here's my pick:

 

[N13]

Would you put Tartarians in the flat earth category? That still only moderately stupid for modern times. Anyway...

Here's my pick:

That guy is consistently wrong, but certain people still believe him.

 

[Natural Order]

Exponential growth bias is a real thing and showing itself everywhere.

 

[Jar of Flies]

Might as well be this. The average age of a home buyer is 40 years old. The vast majority of people will not outlive the mortgage term.

 

[Siver!]

After all, why should a family tree be free of tie?

 

[tenniswhiz]

It’s pretty simple.
If you think 50 year mortgages are a bad idea, then don’t sign up for one.
40 year mortgages have existed in the past. I was once offered one.

 

[lifelessheap]

You can treat a 30 year mortgage like a 15 year. You can take a 50 and treat it however you wish. It gets you in. The you can pay minimums and lock in your payment while inflation goes BRRRT and pay keep your rate. Or when your income goes up you can put way more towards principle. I chose a 30 to get in my home. Then refi'd two years later to a 20 which I treat like a 15.

Having options is not bad. If my income drops I can go back to treat my 20 like a 20.

Someone can get a 50. Pay like 40. Then pay like a 30 or pay like a 15 if income changes... And if something happens go back to paying minimum as a 50.

Freedom is scary.

 

[lifelessheap]

So why not go to an “infinity year” mortgage?

(We could also call it interest only)

We can call it rent!

 

[ShadowRun]

I don't see the advantage of a 50 year mortgage , I think that sets people up due to life events to get a foreclosure and lose it.

 

[MeatheadMike]

It’s pretty simple.
If you think 50 year mortgages are a bad idea, then don’t sign up for one.
40 year mortgages have existed in the past. I was once offered one.

It affects everyone though. Even if you don't get a 50 year mortgage, other people will, so the housing market will be flooded with more buyers that otherwise wouldn't be buying.

The end result will be more competition, and even higher home prices for all.

 

[UFCUCF]

It didn't go unnoticed here that Trump thrrew out 70 years of Republican orthodoxy--that FDR was a terrible President responsible for the destruction of Capitalism. In his tweet about the 50 Year Mortgage, Trump acknowledged FDR as being a great President.

Is FDR now a GREAT American President since Trump has declared it so?

 

[fedorthegoat777]

Huge win for the bankers.