Secretary Turner: More research needs to be done on a 50 year mortgage and the other ideas that are being put forth…
Secretary Turner Says More Research Needed on 50-Year Mortgage Proposal
Secretary Turner: More research needs to be done on a 50 year mortgage and the other ideas that are being put forth…
1 Response
An interest only mortgages with locked in rate isn’t a bad idea. Most mortgages are refinanced within seven years. It isn’t worse than paying rent and it gives the purchaser the flexibility to pay principle when the circumstances warrant. It would be easier to qualify for such loans due to the formula is based on income and the mandatory payment amount.