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Melon

(909 posts)

12. I don't think so.People need choice. I looked at a certain right wing website earlier.

Reply to drmeow (Reply #9)

Thu Nov 13, 2025, 09:55 PM

Nov 13

They are arguing against 50 year mortgages because it qualifies more of the masses to buy homes that shouldn’t have them. So…we think that people aren’t smart enough to make informed decisions….they think the poor will buy houses and tighten the market.

There are now 7 year car loans. Did you protest that?
Probably not because it creates a lower payment to allow you to buy, which will historically advantage you over a renter. If I would buy a house now, it would be at the longest term possible and lowest rate for safety, and I’d pay it off early. If you don’t want a 50 year mortgage….don’t get one. You think that it can be abused so you prevent everyone from having one. You do know that 30 year mortgages aren’t best for everyone, but you don’t become such a nanny state that you prevent everyone from having the option.

Likely this will also create in between loans like 40 years as well. Fantastic. More choices for home ownership for the people.

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Highlight:

What a 50-Year Mortgage Would Mean for Home Buyers [View all] Yo_Mama_Been_Loggin Nov 13 OP

Borrowers will have to dweller Nov 13 #1

We die and leave the debt to our children, who probably don't even want the house FakeNoose Nov 13 #2

I don't follow. You sell it in these instances. Same as if you had an unpaid 30 year mortgage. Melon Nov 13 #5

My point is that a lot more people will die with mortgages unpaid FakeNoose Nov 13 #7

But...who cares...really? People die or sell homes owing money everyday. The estate pays what is owed from the Melon Nov 13 #8

Do many people stay in a home long enough to pay off their mortgage? Mark.b2 Nov 13 #3

I thought I remembered 100 year mortgages in Japan. So I ran it through the machine: Hassin Bin Sober Nov 13 #4

There are still going to be 30 year mortgages. 15 year mortgages. I don't see the issue. Melon Nov 13 #6

This comes down to a question of drmeow Nov 13 #9

I don't think so.People need choice. I looked at a certain right wing website earlier. Melon Nov 13 #12

Yes, I do protest 7 year car loans drmeow Nov 14 #16

The alternative is renting. At zero equity Melon Nov 14 #17

The purpose of a 50-year mortgage is to enrich the lenders while offering very little benefit to the home buyer Wiz Imp Nov 13 #14

Why not? From repuke perspective, they plan to have everyone work till they drop dead. SheltieLover Nov 13 #10

It would mean they're basically renting their entire lives, and paying a humongous amount of interest. Sogo Nov 13 #11

This message was self-deleted by its author PeaceWave Nov 13 #13

I would recommend taking the shortest mortgage you can afford. WarGamer Nov 13 #15

That's a really, really bad idea. For the first 20 years of the mortgage you wouldn't even be touching the Vinca Nov 14 #18

This is another stupid trump idea LetMyPeopleVote Nov 14 #19