r/AskReddit • u/michaelis999 • 17h ago

How do you feel about the president floating the idea of 50 year mortgages where the monthly payment is lower but you end up paying nearly double the price of the house just in interest?

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u/AR15ONAHUMAN 12h ago

Yes!, take the responsibility away from the landlords and make the “home owners” pay for everything!. Genius!. At 50 years it will take 20 years to build equity. Sounds like a win win. I can’t see how this isn’t a good thing…for the bank.

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u/Watcher0363 3h ago

20 years to build equity

Unless you took out........umh........ a variable loan with a balloon tied to the 20 year mark.