http://www.50year-mortgage.com/long-term-mortgage.php?ag=1&se=google&c=FYM&kw
are 100 year far behind in USA?
are 100 year far behind in USA?
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50 year mortgages....
- Thread starter marketsurfer
- Start date
Quote from marketsurfer:
http://www.50year-mortgage.com/long-term-mortgage.php?ag=1&se=google&c=FYM&kw
are 100 year far behind in USA?
$500,000 @ 7% for 50 years:
At the end of 30 years, when most traditional mortgages are paid off, the home owner will still owe about $388,000. They will have paid $695,000 in interest during that time as well.
do these products make any economic sense for the consumer?
its my understanding that 100 year residential mortgages have existed for some time in japan.
surf
its my understanding that 100 year residential mortgages have existed for some time in japan.
surf
Quote from marketsurfer:
do these products make any economic sense for the consumer?
its my understanding that 100 year residential mortgages have existed for some time in japan.
surf
Still better than paying rent, the average middle class family can barely afford the 5% + fees down payment required for a new home, much less the monthly payments required for a home with a 15 - 30 year loan @ say 400k.
Your better off being very rich or very poor in America. The middle class really takes it up the ass.
Quote from WallstYouth:
"... Your better off being very rich or very poor in America. The middle class really takes it up the ass.
The rich pay A LOT... WAAAAYYY more than their "fair share", but at least they can afford it.
The poor GET A LOT... pandering to their vote.
The middle class gets hosed. Eventually there will be no middle class in Amerika.
Quote from indahook:
"Nor a borrower or a lender be"
Benjamin Franklin
Although Mr Franklin may have had this wrong. It seems lending is a great business model...
Actually, excessive debt creation is one way (and the chosen way of the US) for the Gummint to SCREW THE POPULACE OUT OF THEIR ASSETS without them realizing how they're being hosed.... it's an age-old story with HUNDREDS of historical examples.
Quote from gnome:
Actually, excessive debt creation is one way (and the chosen way of the US) for the Gummint to SCREW THE POPULACE OUT OF THEIR ASSETS without them realizing how they're being hosed.... it's an age-old story with HUNDREDS of historical examples.
Agreed.
but I would still like to be the guy who makes the vig on 50yr loan....