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Reply to "Whats wrong with a 50 year mortgage?"
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[quote=Anonymous][quote=Anonymous]I mean lower monthly costs, you still can refinance or pre pay. But if job loss or starting out lowers payments nice. Back when we had 2.75 percent mortgages locking in 50 years would be great! [/quote] To make payments affordable they do need to lower the rates, not just increase amortization term. The discount people get on 50 yr mtg isn't significant enough to get people into homes if this is the goal. If you cannot afford 5K payment you likely cannot afford 4700 payment either. The only thing that truly make a big diff is the rate.[/quote]
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