General Discussion

Wiz Imp

(8,081 posts)

29. Bullshit.

Tue Nov 11, 2025, 09:27 PM

Tuesday

The statement that the Obama administration did not embrace 40-year mortgages for general use is accurate. Forty-year mortgages were primarily an optional component within the administration's specific loan modification programs designed to help struggling homeowners avoid foreclosure, not a new, broadly encouraged standard for new home purchases.

Loan Modification (HAMP): The primary initiative, the Home Affordable Modification Program (HAMP), aimed to reduce monthly payments for at-risk homeowners. As part of a series of steps to achieve this, mortgage servicers had the option to extend the loan term up to 40 years. This was a tool for loss mitigation in cases of financial hardship, not a standard offering for all borrowers

General Mortgage Market: For the general market, the Obama administration did not promote 40-year mortgages. In fact, after the financial crisis, the Federal Housing Finance Agency (FHFA) prohibited Fannie Mae and Freddie Mac from purchasing loans with a term longer than 30 years.

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As a Party, how do we distance ourselves from 50 year mortgages under Trump while we embraced 40 year loans under Obama? [View all] PeaceWave Tuesday OP

Who cares? n/t leftstreet Tuesday #1

Very simple BeerBarrelPolka Tuesday #2

50 year mortgages are like reverse mortgages. No one should use them unless absolutely necessary. But agree with post. Silent Type Tuesday #3

No. A reverse mortgage depletes equity. A 50 year loan does not do so... PeaceWave Tuesday #4

Except sometimes folks have no choice. Silent Type Tuesday #5

An actual reverse mortgage is the worst of all possible choices... PeaceWave Tuesday #18

Yes,reverse M's tack on a lot of fees that eventually eat up all your equity, they are one of the worst bankster scams,. yaesu Tuesday #7

Agreed. From my perspective, reverse mortgages should be illegal. PeaceWave Tuesday #11

Don't see any evidence majority of Dems embraced 40 yr mortgages uponit7771 Tuesday #15

I never embraced 40 year mortgages pat_k Tuesday #6

Is the mortgage schedule part and parcel of the Democratic platform? Torchlight Tuesday #8

10 year difference. We don't have adequate renovation programs. The homes are too BIG. bucolic_frolic Tuesday #9

I can't speak for other states, but California has streamlined Alternative Dwelling Unit laws... PeaceWave Tuesday #10

I'm mainly just complaining about the bullshit self-aggrandizement of putting Trump on a sign with FDR AZJonnie Tuesday #12

These are all valid concerns. PeaceWave Tuesday #13

Link to majority Dems embracing 40 yr mortgages under Obama ...tia uponit7771 Tuesday #14

We? demmiblue Tuesday #16

40 year loans were not widely embraced under Obama. And Obama himself clearly did not embrace them. Wiz Imp Tuesday #17

Obama not only embraced 40 year loans, but HAMP loans were also nicknamed "Obama Loans" PeaceWave Tuesday #24

40 year mortgages were one element of a package of comprehensive reforms DBoon Tuesday #26

Bullshit. Wiz Imp Tuesday #29

The way we do it is to propose a national credit union that will make SIMPLE INTEREST home loans Volaris Tuesday #19

40+ year mortgages are SMART in the right market conditions... WarGamer Tuesday #20

Which is why I find it disturbing that anyone on our side would be advocating against such options... PeaceWave Tuesday #21

Lower payments doesn't mean more affordable Happy Hoosier Yesterday #36

It's a quesiton of affordability. So either fix wages or fix real property prices. flvegan Tuesday #22

Fine. But, neither wages nor real property prices are anything that banks can fix... PeaceWave Tuesday #23

I have no problem with 40 or 50 yr mortgages ... PBC_Democrat Tuesday #25

I hated the idea of a 40 yr mortgage then Sailingdiver Tuesday #27

Yes, a 50 year mortgage and the amount of interest paid over that period is insane. CentralMass Tuesday #28

You left out some critical facts: spooky3 Tuesday #30

I didn't know that I or we embraced 40 year loans Renew Deal Tuesday #31

The average voter doesn't know either newdeal2 Yesterday #35

But is there a universal problem or solution JT45242 Tuesday #32

THIS. You're actually providing one of the most substantive solutions to the current housing problem... PeaceWave Tuesday #34

Take a good look at the graph you reference in your OP. Totally Tunsie Tuesday #33