I think many home owners are already doing this

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Apr 9, 2021
3:09:45pm

USMCdad Intervention Needed

I think many home owners are already doing this

I know a few who have had 30 year mortgages that refinance to another 30 year all the time. We just refinanced our home with the low rates snd my wife originally bought this home 15 years ago, but the new rates snd going with 30 year we decided made sense for us and what we wanted to do with the extra monthly income we saved by doing this.

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USMCdad

Previous username: mosterlow
Bio page: USMCdad
Joined: Jun 23, 2009
Last login: Jan 4, 2023
Total posts: 30,839 (8,222 FO)

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Messages

Author

Time

POLL: We will see qualified 40/50/60 year mortgages in the next 5-10 years.

ag4cougs

4/9/21 1:22pm

Do you agree/disagree with this policy to address affordable housing issue?

ag4cougs

4/9/21 1:27pm

Based on Car loans increasing I could see mortgages creeping up.

groy

4/9/21 1:27pm

60 Year is almost admitting to never paying it off until death.

groy

4/9/21 1:28pm

Rent with all the required liability and repair responsibility.

JAGA97

4/9/21 1:29pm

Not really, you'd still own the equity if you sold.

BLT-Coug

4/9/21 1:46pm

And? Why is that a bad thing?

Ozymandias

4/9/21 1:59pm

I voted false because you included 50 and 60. I could see them getting longer

4/9/21 1:30pm

Lengthening the loan has diminishing returns.

byujdmba

4/9/21 1:34pm

When rates go negative - 60 year mortgage at 0% interest - not a bad deal

novacoug1

4/9/21 1:43pm

Many countries in Europe have 1% mortgages. It is now the norm

Nat Gas Man

4/9/21 2:51pm

40 year mortgages were a thing right before the 2008 crash.

Manti

4/9/21 1:34pm

Are under review right now and I don’ see how they aren’t approved by the Feds

Nat Gas Man

4/9/21 2:49pm

A two to five year loan should be the longest you have a loan out.

Archaea

4/9/21 1:37pm

Huh?

4/9/21 1:49pm

Depends on if the 30-year loan is racist or not.

ForzaPuma

4/9/21 1:53pm

If we returned to more generational housing it would make sense.

Tokolosh

4/9/21 2:07pm

I’ve been trying to teach this to my kids. Makes a huge difference in the

Nat Gas Man

4/9/21 2:53pm

It works some places because you only have 1 or 2 kids. How is that going to

Ozymandias

4/9/21 2:56pm

Well since the average US family is down to below 2 kids. I guess make more $$

Nat Gas Man

4/9/21 3:00pm

I think many home owners are already doing this

USMCdad

4/9/21 3:09pm

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