MAGAmortgage - the 50 year mortgage - good idea? POTUS likes it.
It might be true DJT doesn’t understand how mortgages work.
White House officials are furious with Bill Pulte, the Federal Housing Finance Agency director, who talked the president into suggesting a 50-year mortgage plan.
The White House was blindsided by the idea, according to two people familiar with the situation granted anonymity to discuss internal thinking, and is now dealing with a furious backlash from conservative allies, business leaders and lawmakers.
On Saturday evening, Pulte arrived at President Donald Trump’s Palm Beach Golf Club with a roughly 3-by-5 posterboard in hand. A graphic of former President Franklin Roosevelt appeared below “30-year mortgage” and one of Trump below “50-year mortgage.” The headline was “Great American Presidents.”
Roughly 10 minutes later, Trump posted the image to Truth Social, according to one of the people familiar, who was with the president at the time.
Almost immediately, aides were fielding angry phone calls from those who thought the idea – which would endorse a 50 year payback period for a mortgage – was both bad politics and bad policy, a move that could raise housing costs in the long run, the person said.
Link: https://apple.news/AUGldk5foS4mmYraloD1bbA
Replies to: MAGAmortgage - the 50 year mortgage - good idea? POTUS likes it.
You are better off not owning a home than taking a loan for 1.66 X your working life. Dumb.
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I don't like it. At all.
Look at all the frustration around 5 years of student loan payments and the principle barely moving.
Now think about over a decade of that with mortgages. Not good.
The people that would take out a 50 yr, this won't be their worst fin dec.
So in that way this is sort of predatory.
This is why college tuition went up so much with Obamacare
And car prices with 8 year loans
College tuition is way too high. But Obamacare had nothing to do with it.
The Internet, as it turns out, is full of idiots.
You’re blaming Obama for trump’s stupidity? That’s genius.
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