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Started By
Message
re: The 50-year mortgage is a good idea actually
Posted on 11/11/25 at 12:52 am to Pintail
Posted on 11/11/25 at 12:52 am to Pintail
quote:
Getting a loan at 25 that wont mature until you are 75 is not a recipe for financial success
Consider the interest that would be paid over the life of that mortgage. It's basically usury.
0
Posted on 11/11/25 at 5:04 am to BK Lounge
quote:
God how humiliating it must feel to have voted for this
What a meltdown you just had. And you provided zero arguement
Just a wall of crying. No substance at all
Posted on 11/11/25 at 5:38 am to SDVTiger
quote:
What a meltdown you just had. And you provided zero arguement Just a wall of crying. No substance at all
So in your world, facts = crying .. got it .
I sure hope you were good at football boy, cause im guessing you weren’t exactly captain of the debate team in high school .
Posted on 11/11/25 at 5:40 am to BK Lounge
You provided zero facts. You just rambled
You ppl.cheer a 30yr fix yet melt about a 50yr
Like anyone stays in 1 loan for the term anymore
You embarrassed yourself cause of TDS
You ppl.cheer a 30yr fix yet melt about a 50yr
Like anyone stays in 1 loan for the term anymore
You embarrassed yourself cause of TDS
Posted on 11/11/25 at 5:42 am to cbree88
It makes total sense if you know the USD will collapse very soon.
Otherwise it makes no sense whatsoever.
Otherwise it makes no sense whatsoever.
Posted on 11/11/25 at 6:23 am to SDVTiger
quote:
You provided zero facts. You just rambled
Maga types love ‘owning the Libs’ more than anything else on earth - Fact
Trump was a Liberal on most issues up until around the time he ran in 2015 and wanted to hook gullible yokels like yourself into voting for him.. he is PT Barnum and you are the one born every minute - Fact
The two main big ideas - which you voted for- that we are discussing in this thread and another on the front page are 50 yr mortgages and 15 yr truck notes - Fact
.. I’m not exactly sure what to think about your reading comprehension baw, is English not your first language ?
Posted on 11/11/25 at 6:25 am to SDVTiger
quote:
Like anyone stays in 1 loan for the term anymore
That logic only works if interest rates go down
There is no reason to think we'll see a significant drop in interest rates soon
Posted on 11/11/25 at 6:38 am to UltimaParadox
quote:
Government interfering once again with homes, this will drive up home prices massively.
Yep.
quote:
Home prices would go up massively if the 50 year mortgage is allowed
And yep.
Posted on 11/11/25 at 6:39 am to Powerman
quote:
That logic only works if interest rates go down
Yes things in life never change so everyone just sits in a loan for 30yrs
Posted on 11/11/25 at 6:41 am to SDVTiger
Well no one in their right mind is going to refi into a higher interest rate
And they aren't going down significantly anytime soon
And they aren't going down significantly anytime soon
Posted on 11/11/25 at 6:43 am to Powerman
quote:
Well no one in their right mind is going to refi into a higher interest rate
Its happening daily
I mean you just need to stop with the stupid
Posted on 11/11/25 at 6:55 am to cbree88
quote:
Why not get a 50-year mortgage and then refinance it as soon as you can afford the 30-year loan?
This is the thought process that screwed over millions in the RE crash of 2008-2009.
This only works if prices go up every year with no down period, which is impossible.
And if we have another market correction, these people not only will have little work done on principal but they will be even more negative in terms of equity while taking on all the risk of repairs/maintenance/taxes.
Posted on 11/11/25 at 6:56 am to OldmanBeasley
quote:
Depends how cold you are.
And if you have a stack of singles or hundreds.
If inflation were to ever take off in a Weimar Republic or Zimbabwe type inflation cycle, heating your home with cash will be useful.
Now what happens if you lock in a long term rate and inflation goes crazy and your 2k a month note is maybe a days wage.
Posted on 11/11/25 at 6:57 am to Hester Carries
quote:
Not if your rent is equal to or less than the portion of your mortgage that goes to interest and taxes. In that scenario you could take the difference and invest in anything you wanted (whereas with a house you are just investing in a specific house) while not being on the hook for upkeep.
There are many scenarios where renting is a better financial choice (regardless of what boomers have screamed for years). Basically any scenario that doesn’t include you living in the house for more than 10 years makes buying a bad choice. You are “burning money” with a mortgage too. It’s just some of it.
People have this "rent is throwing money away" mindset that's so simplistic.
It's as ingrained in the psyche of many on the same level as the "Social security is MY money" stuff.
Posted on 11/11/25 at 6:58 am to Pintail
quote:
You can but the person who needs a 50 year mortgage because they can’t afford to save while renting cannot.
Exactly. It's the same people who can't take advantage of savings on rent to further themselves.
It's a debt trap for dumb people being sold a dream that won't materialize in almost every case.
Posted on 11/11/25 at 6:58 am to SlowFlowPro
quote:
This is the thought process that screwed over millions in the RE crash of 2008-2009.
No it wasnt. It was the loan they chose and the way they qualified (stated income)
If they went with FHA they could have steamlined into a lower rate even if the value was zero
Posted on 11/11/25 at 6:59 am to SDVTiger
quote:
It was the loan they chose and the way they qualified (stated income)
And what were they told when making that bad choice?
"Oh, you can just refinance in a few years to get out of it"
What are you telling these people making a bad choice?
"Oh, you can just refinance in a few years to get out of it"
Posted on 11/11/25 at 7:01 am to Dawgfanman
quote:
If I invested the 20% down in an index fund?
Let’s say I put 60k (20% down on a 300k house) in an index fund (and don’t touch it for 50 years. I’d have 7 million dollars at the annual S&P average of 10%.
If I instead invest it in a home, with a mortgage of 6 percent, I’d make monthly payments, pay insurance and taxes, and make repairs for 50 years.
This also doesn't account for the potential to invest the savings on spending monthly when you rent, which makes the potential returns better.
Posted on 11/11/25 at 7:03 am to Tiger Prawn
quote:
The kind of people who would need a 50 year mortgage are going to be the ones who end up in a bad financial spot when any expensive maintenance or repair items come up.
If they couldn’t afford the house without stretching the mortgage over 50 years, do you really think they’ll be able to afford a new AC unit? What about when their roof is at the end of its life and they need a $15K roof replacement? Or when they have storm damage and have to come up with $10K for their hurricane deductible?
Exactly. It's taking on a shite ton of risk without the same upside and potentially being locked in this bad decision for decades.
Can it theoretically work? yes
Will it work for the type of person who needs a 50-year mortgage? Unlikely
The type of person who can take advantage of a 50-yeart mortgage are the type of person who doesn't need a 50-year mortgage
This post was edited on 11/11/25 at 7:04 am
Posted on 11/11/25 at 7:05 am to SlowFlowPro
quote:
And what were they told when making that bad choice?
"Oh, you can just refinance in a few years to get out of it"
When you have a loan that shows the rate will go from a 6% to a 12% in three years and you claimed as a janitor you make 30k a mnth to buy that million dollar home then you are a dumbarse
quote:
What are you telling these people making a bad choice?
"Oh, you can just refinance in a few years to get out of it"
No one is telling them that. They know what the rate and payment will be the entire time and had to prove income to qualify. If life changes and it will they can adjust. They now own a home that will appreciating asset vs renting that they proved they can afford
You are comparing apples to oranges
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