Federal Housing Administration greenlights 40-year mortgages

[Leasy]

Americans should’ve BEEN rioting in the streets…how TF are ppl living these days? Inflation is ridiculous on everything!

Real rap this shyt getting ridiculous and they are going to keep pushing the limit

 

[GzUp]

why not just get a 30 and double the payments?

Then I would be doing the same thing but 15 year gives u a lower interest rate

 

[The Fukin Prophecy]

They would riot in France, but here in the United States.

Crickets.

Then will want to get mad when it all falls apart.

Amurikkka is the most retarded "1st world" country on earth, just look at the education level...

These mothafukkas rather fight on Twitter for the "oppressed" sexually confused white man to use the women's bathroom than be bothered with inflation and the housing crisis...

 

[ISO]

Just another solution or remedy that will backfire

 

[dora_da_destroyer]

nikkas got 8 year car loans and 40 year mortgages and 100k of student loan debt...won't even talk about credit cards....lifetime of servitude

Most people never pay off their mortgage anyway so adding an extra 10 years to lower your payments is great for those that need it.

this is the one upside, if it can make a home attainable to someone 27/28, you still hitting the same "payoff" timeline that someone who can't buy until 35-40 is at on a 30 year loan...that interest gonna be a bytch tho

 

[Originalman]

Look yall!! Watch me ball with my 40 year mortgage and my 15 year car loan.

 

[Originalman]

This means interest rates will only get higher

All I know is that minimum down payment will be higher.

 

[Gritsngravy]

The real move needs to be finding cheaper shytty apartments in the hood and toughing it out living WELL below your means until you have the right assets to afford a dream home.

That’s what me and my wife did and we still got lucky finding a foreclosure that was a no brainer to invest in.

The hood really ain’t that cheap

 

[Spence]

The hood really ain’t that cheap

My apartment in 2004 was $250 per month for a 2 bedroom in Nubia Square in the middle of the dirty 3rd ward (once the murder capital of the world)

There are cheap living accommodations out there, they just aren’t meant for everyone.

 

[clyma est mort]

I re-fi'd a 10 year mortgage at 2.25% back at the end of 2020. A 40 year mortgage really sticks it to the poor and foolish.

 

[Originalman]

40 year mortgage .....man this gonna be the bank when it time to go through underwriting....

 

[Astroslik]

Then I would be doing the same thing but 15 year gives u a lower interest rate

Yeah but on a rainy month you can have a cheaper payment

 

[GzUp]

Yeah but on a rainy month you can have a cheaper payment

That’s true, gives u flexibility in case something happens but it also gives u the option to slack off and not be consistent.

I can’t wait to hit that ten year mark, knowing in ten years I’m done.

 

[Htrb-nvr-blk-&-ug-as-evr]

I mean, car loans are now 84 months, cell phone plans are now 36 months, and you can buy anything with 4 easy payments with no credit check. America continues to dangle that low monthly payment in front of a struggling populace with no efforts towards wage increases to compensate. And folks just lay down and accept it…

 

[⠀X ⠀]

10 more years of payments, just to save $200 a month? That’s their solution to this housing epidemic? I’m sure the Banks love this and lobbied for it.