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Prof. Toru Tanaka

(2,873 posts)

28. I am currently doing this.

Sun Nov 9, 2025, 10:27 AM

Nov 9

I also accelerated payments on 60 month auto loans in the past and paid off a car in 49 months. I still have it and now that I am retired I plan on keeping it for a while. These new car prices are insane.

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mopinko lastlib hamsterjill

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Donald Trump Proposing 50-Year Mortgages Sparks Backlash [View all] BumRushDaShow Nov 9 OP

30 years is hard enough............. Lovie777 Nov 9 #1

Biden suggested taxing the profits of REITs wolfie001 Nov 9 #4

That's not "affordability" -- that's lifetime debt service LSparkle Nov 9 #2

This will pass on mortgage debt to the children of homeowners . FalloutShelter Nov 9 #5

Do children inherit debt or do you mean they lose karynnj Nov 9 #29

Imagine being foreclosed on in year 49 TheFarseer Nov 9 #8

It's called renting. NotHardly Nov 9 #40

When I was posted to Germany in the early 90's, they had 100 year mortgages. OnlinePoker Nov 9 #3

Japan actually has 150-year mortgages! lastlib Nov 9 #48

As someone who spent 45 years working in real estate hamsterjill Nov 9 #6

I thought the same thing Hey Joe Nov 9 #25

"Oh well. That mortgage payment is still in the mail, right?" durablend Nov 9 #32

Bring back the FannyMae and FreddieMac mortgages FakeNoose Nov 9 #7

same here. mopinko Nov 9 #21

Get private equity out of residential ownership... EarthFirst Nov 9 #9

Canada tried 40 year mortgages briefly under Harper Fiendish Thingy Nov 9 #10

Increased demand, with probably little to no incentives to increase supply to meet that demand. paleotn Nov 9 #20

Indentured servants Puppyjive Nov 9 #11

Lifetime of indentured servitude to the corporate machines Javaman Nov 9 #12

Not to mention ten year car loans on top of that. Diamond_Dog Nov 9 #15

As long as you are in permanent debt Javaman Nov 9 #18

Indeed Hey Joe Nov 9 #27

Indeed it would👍 nt Javaman Nov 9 #42

Fiberboard Glue homes won't last 50 years. Renovation every 25 years. bucolic_frolic Nov 9 #13

$200k borrowed. 30 yr loan payment at 6% $1200. 50 yr. loan pmt $1052. $148 a month diff. twodogsbarking Nov 9 #14

And the amount of interest to be paid is MONSTROUS. lastlib Nov 9 #46

Exactly! This would be ruinous for most families FakeNoose Nov 9 #55

The interest is the devil for sure. That makes it hard to move when your current rate is below 3%. twodogsbarking Nov 9 #49

What's worse? mwooldri Nov 9 #16

Why is anyone surprised? He doesn't understand anything. He's a hateful dementia ridden moron. ChicagoTeamster Nov 9 #17

Years ago snowybirdie Nov 9 #19

i just want to point out, since a lot of ppl dont know, mopinko Nov 9 #22

This! paleotn Nov 9 #24

I am currently doing this. Prof. Toru Tanaka Nov 9 #28

I used this to pay a recent car loan, saved $10K in interest! lastlib Nov 9 #47

We did this ... SomewhereInTheMiddle Monday #64

Home financing ideas from a multi-bankrupt, debt hog. paleotn Nov 9 #23

What makes it more affordable Turbineguy Nov 9 #26

It's a FAKE MORTGAGE! You'll be 80 years old and still paying it off /nt bucolic_frolic Nov 9 #31

Trump will think of a way to shorten your life. Turbineguy Nov 9 #36

Step 1: 50-year mortgages. Step 2: Bluetus Nov 9 #30

will the bank reqjuire life insurance? rampartd Nov 9 #33

Banks will just repossess the house, sell it, and get another poor fool paying them a 50 year mortgage. nt SunSeeker Nov 9 #44

IIRC There are Mortgages that go to the deceased person's next of kin upon death in Europe. Jacson6 Nov 9 #34

I refinanced during Covid. I already had a decent rate, think I lowered it by 1.25 or 1.5 percent AZJonnie Nov 9 #35

50 year mortgage, ten year car payments, student loan debt, full medical premiums with no ACA help Diamond_Dog Nov 9 #37

Goes hand in hand with the new 7 year car loans. flvegan Nov 9 #38

When my husband taught middle school math Diamond_Dog Nov 9 #39

I would have guessed "American education" regardless of where this was posted. flvegan Nov 9 #45

While we're at it Devilsun Nov 9 #41

How about offering first time home buyers $25,000 toward their down payment, like Kamala did? SunSeeker Nov 9 #43

If that idea had turned into law, the 60 % of the country who don't have a thousand dollars for an emergency questionseverything Nov 9 #50

No they wouldn't, most don't pay federal taxes, which is how the down payments would be funded. SunSeeker Nov 9 #52

51,000 is considered the bottom of middle income questionseverything Nov 9 #53

I didn't insult you. You're the one throwing out "both sides" insults about the Democratic Party. nt SunSeeker Nov 9 #57

I'm pretty sure I get to decide if I'm insulted or not questionseverything Nov 9 #58

As do I. nt SunSeeker Nov 9 #61

Stupid fuk is proposing longer interest payments UpInArms Nov 9 #51

Mortgage Companies Deep State Witch Nov 9 #54

I'll take a 50yr mortgage fixed at 3% any day of the year. Buddyzbuddy Nov 9 #56

That's no deal, it would be cheaper to pay rent for your entire life FakeNoose Nov 9 #59

First, I understand and respect your perspective. Buddyzbuddy Monday #63

A basic new construction house is $250,000 plus questionseverything Nov 9 #60

But with harsher natural disasters: fire, flood, TommyT139 Nov 9 #62

This is another stupid trump idea LetMyPeopleVote Monday #65