Trump proposes 50-year mortgage to help affordability

[struth]

The idea of having to pay back loans is not something that exists in the rotten lump between Trump's ears.

Why pay it off? Sell at a profit before, buy bigger

We are talking real estate
…and you claims to be a broker?? Hahahaha.

 

[Fort Fun Indiana]

Oh, and since it hasn't been mentioned:

50 year mortgages would immediately SPIKE housing prices in a way that would make 2007 look tame.

 

[struth]

Oh, and since it hasn't been mentioned:

50 year mortgages would immediately SPIKE housing prices in a way that would make 2007 look tame.

No it wouldn’t happen immediately.

Wow you failed yourself a broker

 

[Fort Fun Indiana]

Why pay it off? Sell at a profit before, buy bigger

Or do like the fat rapist and just default. Then sue the lender.

 

[Fort Fun Indiana]

No it wouldn’t happen immediately.

It would happen immediately, just as how housing prices IMMEDIATELY spiked when mortgage rates bottomed out a couple years ago.

Dude, you just aren't qualified to talk about any aspect of this topic. And I am no longer going to play whack-a-mole with your idiotic, ad hoc lies.

 

[g5000]

Oh, and since it hasn't been mentioned:

50 year mortgages would immediately SPIKE housing prices in a way that would make 2007 look tame.

Car dealers are now offering 88 month loans.

Car prices continue to skyrocket.

.

 

[struth]

Oh, and since it hasn't been mentioned:

50 year mortgages would immediately SPIKE housing prices in a way that would make 2007 look tame.

No it wouldn’t happen immediately.

Wow you failed yourself a broker

It would happen immediately, just as how housing prices IMMEDIATELY spiked when mortgage rates bottomed out a couple years ago.

Dude, you just aren't qualified to talk about any aspect of this topic. And I am no longer going to play whack-a-mole with your idiotic, ad hoc lies.

What do you mean by rates bottoming out a could years ago?

Housing prices would increase, in the long term, I don’t deny that, but it wouldn’t be immediately

Fort you have been exposed as a liar, you are out of your league

 

[Fort Fun Indiana]

Car dealers are now offering 88 month loans.

Car prices continue to skyrocket.

.

96 month loans, too.

Lenders are writing 72+ month loans on 9 year old cars that are worth $10,000. Anyone with a lick of sense knows that loan is NOT going to mature. That it represents a person renting a dubious vehicle who also is taking on all the risks of owning the vehicle.

Those loans can approach 200% loan-to-value within 3 years or so. Someone runs a red light and hits them? The loan likely defaults. Their suspension and powertrain start to give out? That loan likely defaults.

 

[struth]

96 month loans, too.

Lenders are writing 72+ month loans on 9 year old cars that are worth $10,000. Anyone with a lick of sense knows that loan is NOT going to mature. That it represents a person renting a dubious vehicle who also is taking on all the risks of owning the vehicle.

Those loans can approach 200% loan-to-value within 3 years or so. Someone runs a red light and hits them? The loan likely defaults. Their suspension and powertrain start to give out? That loan likely defaults.

A default care loan just means the borrower gets sued

The dealer moves on. Cars are a dime a dozen

Comparing that to a real estate mortgage? Haha

50 year loans are dumb and don’t suggest anymore take one, but I have no problem with the offer out there. More options aren’t bad.

What people should do is live within their means and not vote for members of the xiden admin that made a majority of the country worse off after four years

Or vote to be like Canada that has destroyed their housing market where you can’t afford a house for less then a million.

 

[Natural Citizen]

This is an incredibly dumb idea. Who on Earth would want a 50-year mortgage? You're indebting yourself your entire life and will pay far more interest over the course of the loan than your home will ever be worth. It's a lifetime of indebtedness.

You will own nothing and be happy, I think it was?

Or something like that...

 

[Fort Fun Indiana]

You will own nothing and be happy, I think it was?

Or something like that...

Donnie Two Dolls

 

[g5000]

96 month loans, too.

Lenders are writing 72+ month loans on 9 year old cars that are worth $10,000. Anyone with a lick of sense knows that loan is NOT going to mature. That it represents a person renting a dubious vehicle who also is taking on all the risks of owning the vehicle.

Those loans can approach 200% loan-to-value within 3 years or so. Someone runs a red light and hits them? The loan likely defaults. Their suspension and powertrain start to give out? That loan likely defaults.

Precisely. You hit the nail on the head.

Which is why used car salesmen use high-pressure sales tactics to get the customer to buy gap insurance. At a premium cost, of course.

Worse, if you are about to sign a 72 month loan, they will show you how much an 88 month loan payment will be if you buy the gap insurance.

They don't expect you to do the math.

Used car salesmen really are pieces of shit.

 

[struth]

Donnie Two Dolls

Trump owns a lot of real estate, got rich of “brokers” like you

Not his fault you are an idiot

 

[Nuthin' Fancy]

By far the ONE of the dumbest "Ideas" to come out of the Trump regime.

Bill Pulte is a ******* crook.
If you ever bought a Pultie home, you know what I mean.
Almost if you were that brain dead to buy anything Trump.

 

[struth]

Precisely. You hit the nail on the head.

Which is why used car salesmen use high-pressure sales tactics to get the customer to buy gap insurance. At a premium cost, of course.

Worse, if you are about to sign a 72 month loan, they will show you how much an 88 month loan payment will be if you buy the gap insurance.

They don't expect you to do the math.

Used car salesmen really are pieces of shit.

Dude, sometimes the gap insurance is needed, but don’t let anymore pressure you into it

What I would do is save more, so you can buy an affordable care…if not you are gonna have to dedend on high risk loans for these cheaper cars

One day you’ll figure it out and maybe grow up and get this

 

[struth]

By far the ONE of the dumbest "Ideas" to come out of the Trump regime.

Bill Pulte is a ******* crook.
If you ever bought a Pultie home, you know what I mean.
Almost if you were that brain dead to buy anything Trump.

Why is it a bad idea?

The company is making billions and providing low income folks like you a chance at a home

 

[Fort Fun Indiana]

Precisely. You hit the nail on the head.

Which is why used car salesmen use high-pressure sales tactics to get the customer to buy gap insurance. At a premium cost, of course.

Worse, if you are about to sign a 72 month loan, they will show you how much an 88 month loan payment will be if you buy the gap insurance.

They don't expect you to do the math.

Used car salesmen really are pieces of shit.

Yep. And they make fry cook wages, other than their commissions. So they have to sell to eat. The moral hazard in such a situation is off the charts. But the banking and auto industries have managed to strip away all laws and any possibility of any laws that protect the consumer.

If you buy a used car, start it up to drive away from the dealership, and the transmission falls out... the dealer has the legal right (and will definitely exercise it) to demand you get your piece of shit car off their lot before they have it towed away.

The best GAP policies offered generally cover up to 125% LTV, using the value of the vehicle at date of loss. Most of these loans START at or over 125% LTV, due to:

• low value of vehicle and it already being overpriced to book value due to our desperation market
• sales tax
• dealer fees
• protection products, like GAP and aftermarket warranties

So, even WITH GAP, the loans often default, when there is any serious problem with the vehicle. And GAP only helps when the vehicle is a total loss. Not when a $9000 car needs $5000 in repairs just to get back on the road.

Everything about curing this problem SHOULD be right in the wheelhouse of a supposed "Populist" President, and his party and administration. These are generally all WORKING people affected by this. Lower middle class people from the income brackets that Trump WON, in 2024.

But that populism is a ruse for idiots.

 

[struth]

Yep. And they make fry cook wages, other than their commissions. So they have to sell to eat. The moral hazard in such a situation is off the charts. But the banking and auto industries have managed to strip away all laws and any possibility of any laws that protect the consumer.

If you buy a used car, start it up to drive away from the dealership, and the transmission falls out... the dealer has every legal right (and will definitely exercise it) to demand you get your piece of shit car off their lot before they have it towed away.

The best GAP policies offered generally cover up to 125% LTV, using the value of the vehicle at date of loss. Most of these loans START at or over 125% LTV, due to:

• low value of vehicle and it already being overpriced to book value due to our desperation market
• sales tax
• dealer fees
• protection products, like GAP and aftermarket warranties

So, even WITH GAP, the loans often default, when there is any serious problem with the vehicle. And GAP only helps when the vehicle is a total loss. Not when an $9000 car needs $5000 in repairs just to get back on the road.

Everything about curing this problem SHOULD be right in the wheelhouse of a supposed "Populist" President, and his party and administration. These are generally all WORKING people affected by this. Lower middle class people from the income brackets that Trump WON, in 2024.

But that populism is a ruse for idiots.

No the population doesn’t live that ghetto

Or if they did in college they moved on


It’s just you losers live that level all your life

 

[Nuthin' Fancy]

Why is it a bad idea?

The company is making billions and providing low income folks like you a chance at a home

No, Q-NUT.
That's what he is providing to you and your gullible cult.

 

[struth]

No, Q-NUT.
That's what he is providing to you and your gullible cult.

Low income housing?

Ok.

Keepi living in the streets dembot