General Discussion

jmowreader

(52,783 posts)

36. It seems like this is a way to solve the employment crisis

Sun Nov 9, 2025, 03:49 PM

Sunday

If you buy a home at the age of 35 on a 50-year mortgage, the loan will be satisfied when you're 85. Because no one of typical means has a retirement plan that pays him or her enough to cover house payments, you'll be working until you're 85. You'd realistically have to enter into one of these contracts when you were under 20 years old to have it paid off (assuming, of course, that you don't make extra payments and retire the note early) before you were 70. This throws two wrenches into the works: no 18-year-old or 19-year-old is in a situation where taking on a mortgage is feasible, and no bank will write one for an 18-year-old or 19-year-old.

I want to know: do these 50-year mortgage contracts include a clause that returns ownership of the property to the lender if the debtor dies before the loan is satisfied? If so, we're looking at what is not really a mortgage, but in effect a residential triple-net lease (lessee pays insurance, property taxes and maintenance) by another name.

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Boomerproud

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Trump likes 50 year mortgages rather than 30 year ones: [View all] applegrove Sunday OP

Their goal is to prevent you from owning anything. They can own it all, and you RockRaven Sunday #1

That is almost serfdom DBoon Sunday #31

Gee, that will shut up all those "affordability" whiners! pat_k Sunday #2

What next, interest payments only mortgages?? nt Disaffected Sunday #3

Interest-only mortgages were a fixture of predatory lending. pat_k Sunday #6

We got stuck in one of those. Took a long time to get out of it because the bubble burst. But we made it out. C Moon Sunday #14

Yeah, I forgot to add Disaffected Sunday #21

Could be worse - could be a negative amoritzation loan . . . hatrack Sunday #35

So basically, from Cradle 2 the Grave Coldwater Sunday #4

Almost nobody will ever be able to pay off their mortgage. Ocelot II Sunday #5

Also if you can't pay it off before you die (and most won't) then your estate/heirs RockRaven Sunday #10

This message was self-deleted by its author PeaceWave Sunday #7

Maybe so, but it's a patch that doesn't really help people. Morbius Sunday #9

This message was self-deleted by its author PeaceWave Sunday #11

It's still rather predatory. There are other means to make home ownership KPN Sunday #12

This message was self-deleted by its author PeaceWave Sunday #13

It is medieval serf living except the serfs, not the would be paying the taxes delisen Sunday #16

A 50 year loan is predatory. Bengus81 Sunday #17

I disagree. The whole housing market is increasingly predatory in recent years. KPN Sunday #22

This message was self-deleted by its author PeaceWave Sunday #25

You will pay for your whole life time dweller Sunday #8

I'll take the 15 year one. That's all I ever held on any of my sinkingfeeling Sunday #15

We did that too Bettie Sunday #20

Us as well Mossfern Sunday #26

This message was self-deleted by its author PeaceWave Sunday #27

And is the debt passed on to the next generation? milestogo Sunday #18

If it's unpaid, the lender holds the title to the home. So in that sense, no. But from the standpoint of leaving KPN Sunday #23

One of the housing issues is that seniors are remaining in their homes allegorical oracle Sunday #19

+1 leftstreet Sunday #24

I read this on FB & there wasn't a link, so take it for what it's worth. CrispyQ Sunday #30

If it is done when someone is 30, they will be paying on it until they are 80 UpInArms Sunday #28

This message was self-deleted by its author PeaceWave Sunday #29

Some people value the freedom of renting over the financial benefits of owership. CrispyQ Sunday #32

I have been a lifelong renter BeerBarrelPolka Sunday #34

At age 80, you may never own your house. no_hypocrisy Sunday #33

It seems like this is a way to solve the employment crisis jmowreader Sunday #36

Which would I pick? Bristlecone Sunday #37

This is another stupid trump idea LetMyPeopleVote Monday #38

It seems like the student loan fiasco where people these days pay applegrove Monday #39

A 15 yr loan works out to $3,375/mo. 207.6K interest. Mosby Monday #40