(11-10-2025 12:29 AM)TripleA Wrote:  

(11-09-2025 11:18 PM)BartlettTigerFan Wrote:  NOTHING IS MORE IMPORTANT THAN MY SLEEP.

Well, didn't we turn the clocks back and you gained an hour of sleep?

No, now I'm sleepy at 8:00 pm and up most of the night. I'll get used to it, just in time to spring forward.....

(11-10-2025 07:22 AM)TripleA Wrote:  

(11-10-2025 01:52 AM)rath v2.0 Wrote:  

(11-09-2025 09:32 PM)TripleA Wrote:  

(11-09-2025 08:22 PM)rath v2.0 Wrote:  Note from a Canadian:

Quote:They tried something like this a couple of decades ago here in Canada and it was the start of our skyrocket housing prices. People thought they could get into ownership with a longer mortgage with barely cheaper monthly payments. The builders and realtors just increased the prices to make the monthly near the same or more for less house. Complete backfire.

Nobody said something couldn't go wrong. Greed is everywhere.

But this is reportedly Trump's idea, and he doesn't do things like this to curry favor. Especially when he's out after this term.

It would also be nice to allow more young people to be able to own homes. That's good for everybody, and the economy.

Banking and real estate lobbyists got in Trump's ear, IMO. He didn't just come up with this idea.

Maybe so. Does that matter in the long run? It's either a good idea, or not. If you can afford a 50-year mortgage, what is the issue? I don't get the angst.

The mortgage market collapsed in '08 b/c too many lenders made bad loans. Which has zip to do with making the terms of a loan longer. You can either afford it, or not qualify.

Extend it to 50, who cares? The key is not to give loans to people who are likely to default. Business 101.

Once again...at @ 80 years old why care?

People forget the only reason why the 30 year was created by FDR during the heart of the depression.

This is a good idea for banks and a rotten idea for everyone else... It's ok to disagree with people on our home team.

(11-10-2025 08:43 AM)BartlettTigerFan Wrote:  

(11-10-2025 12:29 AM)TripleA Wrote:  

(11-09-2025 11:18 PM)BartlettTigerFan Wrote:  NOTHING IS MORE IMPORTANT THAN MY SLEEP.

Well, didn't we turn the clocks back and you gained an hour of sleep?

No, now I'm sleepy at 8:00 pm and up most of the night. I'll get used to it, just in time to spring forward.....

Ditto. I haven't gotten a decent nights sleep since the effing time change. Ready to pass out at 9 pm since it's been dark for 3 1/2 hours and I wake up at 2:30. Sometimes I just get up and go.

(11-10-2025 08:01 AM)Eldonabe Wrote:  

(11-09-2025 01:49 PM)TripleA Wrote:  Video here:

https://www.foxnews.com/video/6384870387112

This only works if the rates are lower on the product.

320K Mortage (for a 400K home)

At 6% you are paying 1918.56 per month on just the loan (no tax ins etc). Over the life of the loan you are paying $50K more in interest than the actual principal on the loan.

Same thing except for 50 years. In the now, you are paying $1684 (appx $230 less) and now paying $370K more in interest than the original principal on the loan. You will not start building any reasonable equity through balance amortization for at least 20 years.


That is not a deal... without rate relief to go along with it.

It is not meant to be a deal, IMO. It is meant to spur first time buyers to purchase homes, when they otherwise could not.

The bank decides if you qualify, not the customer. As long as the lenders don't repeat the 2008 debacle, and make loans they shouldn't, this isn't an issue, IMO. But that can be said at any time with any loan situation.

Hell, if people buy and figure out it's too much, they always have the option to sell.

Or get foreclosed on. See 2007

(11-10-2025 08:46 AM)rath v2.0 Wrote:  

(11-10-2025 07:22 AM)TripleA Wrote:  

(11-10-2025 01:52 AM)rath v2.0 Wrote:  

(11-09-2025 09:32 PM)TripleA Wrote:  

(11-09-2025 08:22 PM)rath v2.0 Wrote:  Note from a Canadian:

Nobody said something couldn't go wrong. Greed is everywhere.

But this is reportedly Trump's idea, and he doesn't do things like this to curry favor. Especially when he's out after this term.

It would also be nice to allow more young people to be able to own homes. That's good for everybody, and the economy.

Banking and real estate lobbyists got in Trump's ear, IMO. He didn't just come up with this idea.

Maybe so. Does that matter in the long run? It's either a good idea, or not. If you can afford a 50-year mortgage, what is the issue? I don't get the angst.

The mortgage market collapsed in '08 b/c too many lenders made bad loans. Which has zip to do with making the terms of a loan longer. You can either afford it, or not qualify.

Extend it to 50, who cares? The key is not to give loans to people who are likely to default. Business 101.

Once again...at @ 80 years old why care?

People forget the only reason why the 30 year was created by FDR during the heart of the depression.

This is a good idea for banks and a rotten idea for everyone else... It's ok to disagree with people on our home team.

The dopes - I mean dems, will only disagree because it is Trumps idea not because it is a bad idea. We are disagreeing because it is a bad idea only.

If Kamala was the author of this, they would fall all over themselves in support.

True. This would be properly shredded by by he right if Kamala proposed it.

(11-10-2025 08:46 AM)rath v2.0 Wrote:  

(11-10-2025 07:22 AM)TripleA Wrote:  

(11-10-2025 01:52 AM)rath v2.0 Wrote:  

(11-09-2025 09:32 PM)TripleA Wrote:  

(11-09-2025 08:22 PM)rath v2.0 Wrote:  Note from a Canadian:

Nobody said something couldn't go wrong. Greed is everywhere.

But this is reportedly Trump's idea, and he doesn't do things like this to curry favor. Especially when he's out after this term.

It would also be nice to allow more young people to be able to own homes. That's good for everybody, and the economy.

Banking and real estate lobbyists got in Trump's ear, IMO. He didn't just come up with this idea.

Maybe so. Does that matter in the long run? It's either a good idea, or not. If you can afford a 50-year mortgage, what is the issue? I don't get the angst.

The mortgage market collapsed in '08 b/c too many lenders made bad loans. Which has zip to do with making the terms of a loan longer. You can either afford it, or not qualify.

Extend it to 50, who cares? The key is not to give loans to people who are likely to default. Business 101.

Once again...at @ 80 years old why care?

People forget the only reason why the 30 year was created by FDR during the heart of the depression.

This is a good idea for banks and a rotten idea for everyone else... It's ok to disagree with people on our home team.

The fact I'm close to 80 is irrelevant. My brain still works fine, thanks.

I honestly don't understand your angst over this idea. Nobody forces anybody to do this, and it is still the lender's responsibility to not make loans to people who can't pay them, so what has changed? Nothing.

It's simply a way to get first timers into the market. Nobody is paying out a 50 year mortgage, lol. Most people will sell within a few years and likely move on to a more conventional mortgage.

As for disagreeing with people on our home team, I don't have a home team. I just look like it temporarily b/c the Dems have gone effing bonkers, lol.

I want both parties to die. I'm just closer to Trump's policies right now than I am to whatever the hell the Dems are doing at the moment. They have gone full Looney Tunes.

(11-10-2025 09:00 AM)rath v2.0 Wrote:  Or get foreclosed on. See 2007

Then the lender was a damn idiot. Which is what happened in 2007/08.

That's on them, not on the mortgage tool.

Offer the 50 year loan and let young people start building equity. Once they have established themselves in a career, they can refinance using the equity they have already created as a down payment.

This plan would make apartment prices drop as the housing market would open up to new buyers who can’t presently afford to save a down payment while paying exorbitant rent.

There need to be some rules to keep investors from qualifying for these loans. BlackRock and other financial speculators need to be banned from investing in single family homes.

This will work if it can get through the special interest lobbyists in DC.

Sadly we’ve got to compete with the people who destroyed the system to fix it.

(11-10-2025 08:41 AM)Eldonabe Wrote:  

(11-10-2025 08:37 AM)WKUYG Wrote:  Some of you people are f'ing idiots...

most as in my opinion85% up of first time home buyers are not buying 400k homes. The median sale price for a starter home was about $243,000 in 2024.

Why can't you understand that people as in MOST, like 90+% are going to refinance with in 7 years of their first note? So running the numbers at almost double what people are buying and at the full 50 years is just stupid.

Have you looked at rent for the typical first time home ....around $2,000 to $2,400 a month for a home like the first time home buyer is buying. Now that is going to be for the next 50 years but higher, if they dont buy a home.

Buying a starter home is supposed to be something the builds equity do you can upgrade down the road. If you are making the contract payments only - you are paying virtually nothing on principal - and right now property values are declining so you may actually lose money in that situation. A 30 year is not much better right now either for that matter....

Most people are building equity in value increase, not their note payments over the first 10 years. But whatever they gain its a plus over giving it to me, the guy owning and renting the home.

Historically you are not going to lose money on a home's value. You are going to build wealth. The median rent in Kentucky is close to $1300 a month. That jumps to $1300-1700 on a typical first time home of 1000 to 1300 sq ft

Enough to pay your note, insurance, taxes and still put $100 to $200 in the bank each month for unseen expenses. So a little better than break even on a 30 year note. Those numbers probably goes up to $175 to 275 on the 50 year.


On historical averages when they sell in 7 years they will pocket around 50k gross and net around 40k on that sell.

Renting, while paying very close, if not higher monthly payments....O in 5, 0 in 7, 0 in 10, 0 in 20, 0 in 30 and 0 in 50 years is being built.

I still own a bunch of rental homes and I do hope prices come down and also rent cost. Since buying my homes in 2012-2018 I've raised my rent 10% for those still in the home. My rent is still at least 25% below market rate when I have to rent one. I keep my homes up. But I value long term renters over max profit. I dont have the heart to do what most of these home owners, renting out their homes are doing.

In my small town USA of 50k people homes renting for $600 to $800 6 years ago are now $1500 to $1700 a month. If you bought that home 6 years ago or longer....

its being paid off in 4 to 5 years of being rented out

(11-10-2025 09:00 AM)rath v2.0 Wrote:  Or get foreclosed on. See 2007

You are completely out of touch with rent in America...

most people that can buy a first time home on a 30 or 50 year note are paying more rent each and every month than the total cost of that note. Including taxes and insurance .

2008 was caused by giving loans to people that could not afford the payments. No one is talking about banks lowering their standards on the loans. Only the period of years its being paid back.

Of course prices will increase at first but even with that the buyer will be a net positive of 30 to 40k if they are the average seller....7 years down the road. Four to five years just with historical gains. They will be a net positive if they not longer can afford the home and must sell.

Or we can become a renters country and they gain nothing....

I get to put that monthly payment in the bank and get my rentals I bought 8 years ago paid off in 4 years. If I still had a note, I dont.

50 year loans are going to have an outrageous monthly note.

(11-10-2025 09:49 AM)BartlettTigerFan Wrote:  50 year loans are going to have an outrageous monthly note.

Did you flunk math class?

They're going to have an outrageous total payment, but a lower monthly note. Which is the purpose of the mortgage.

I said that wrong, $2500 monthly note, $2499 interest, $1 principle first 10 years.

That's an exaggeration by the way, to make a point.

(11-10-2025 09:58 AM)BartlettTigerFan Wrote:  That's an exaggeration by the way, to make a point.

Yes. We've met before.

You're going to make your money on the sale, not by paying down the loan.

The 50-year is to get you in the door in the first place, to home ownership, as opposed to continuing to pay rent, which all goes up in smoke.

(11-10-2025 09:12 AM)TripleA Wrote:  

(11-10-2025 09:00 AM)rath v2.0 Wrote:  Or get foreclosed on. See 2007

Then the lender was a damn idiot. Which is what happened in 2007/08.

That's on them, not on the mortgage tool.

Lenders make theirs on the front end. Mtg brokers make their points immediately at the closing table.

You get upside down in 10-15 years they aren't losing sleep. 2007 was due to government policies adopted to get people into homes they otherwise couldn't afford or more home than they could afford when the price bubble popped. Sounds vaguely familiar.

FWIW on a 50 year conventional you'll be paying mostly interest for the 1st 40 years. lol going to create a generation of indentured serf class of borrowers with inflated pricing.

(11-09-2025 02:25 PM)TripleA Wrote:  

(11-09-2025 02:09 PM)maximus Wrote:  Not too much of a fan of this unless it has some refi incentives somehow. In general I think its a bad idea

Sent from my SM-S928U using Tapatalk

I have mixed feelings. It means people pay much more over the life of the loan, and banks profit greatly from it.

BUT...it also means that some homebuyers will be able to enter the market, who cannot currently do so.

Double-edged sword, so to speak...but I don't see the harm in offering the longer mortgage. It's up to individuals to take that on, or not. Just like everything else in life.

I think it's a great idea. We already have people buying expensive cars because of 7 year loans, why not houses.

The importance of this is that now many who couldn't afford a home can now be able to own one. Sure, the 50 year loan sounds like a lot...and it is,
but there's no law that says your can't pay it off before then. I know that when my wife and I bought our home we paid it off in 11 years on a 30 year loan. The importance of the matter is that we need people being able to own their home and also contribute to the tax base which a city depends on.

Also remember that most of the time your paycheck keeps going up thus making the payments plus extras much easier. I know when we bought our home my paycheck was rising too.

Just do what I did and pay cash for your house.