Reply To: Ready for a 50 Year Mortgage? The Trump 50 Year Mortgage.

Lol. Yeah, I mean what’s next, why not a 75 year mortgage? I have been doing mortgage loans for 30 plus years. I have originated, processed, funded, sold, bought, and serviced  mortgages. I’m balls deep in that business now.It’s amazing what a dinosaur business it remains after all these years. Nothing much has changed. There was a 40 year loan available in the Wild West atmosphere before the crash in 2008. It was a bust program because for most consumers the payment difference from a 30 year loan is minimal but the interest payback is huge. Looks like this idea( 50 year mortgage) is not gathering any traction. Extending the term of a loan to increase affordability is such a bad policy idea. It’s putting a band aid over a severed artery. What we need is more homes built and lower rates along with real wage growth. That’s much harder to accomplish.