Former President Donald Trump played down the idea of introducing a 50-year mortgage to make housing more affordable. During a Fox News interview on Monday night, he said the plan wouldn\u2019t have a major impact, explaining that it simply means paying less each month but for a much longer time. He said, \u201cIt\u2019s not like a big factor. It might help a little bit.\u201d Trump blamed current housing affordability problems on President Joe Biden\u2019s policies and high interest rates set by the Federal Reserve.<\/p>\n
The proposal for a 50-year mortgage has sparked mixed reactions. Some critics argue it could trap people in long-term debt. Republican Representative Marjorie Taylor Greene called it \u201cIn debt forever, in debt for life!\u201d on social media. Conservative commentator Mike Cernovich described it as \u201cLifetime mortgages.\u201d<\/p>\n
Still, others see it as a potential breakthrough. Federal Housing Finance Agency Director Bill Pulte called the idea \u201ca complete game-changer\u201d after Trump shared a social media post with the words \u201c50-year Mortgage.\u201d Pulte said the agency is also exploring ways to make shorter-term loans like 5-, 10-, and 15-year mortgages more affordable. He added that Fannie Mae and Freddie Mac are studying how to create assumable or portable mortgages in a \u201csafe and sound manner.\u201d<\/p>\n
Economists critical of the idea warn that while longer mortgages could lower monthly payments, homeowners would end up paying much more in total interest. They would also build equity in their homes far more slowly, which could make it harder for families to gain real financial security over time.<\/p>\n","protected":false},"excerpt":{"rendered":"
Former President Donald Trump played down the idea of introducing a 50-year mortgage to make housing more affordable. During a\u2026<\/p>\n","protected":false},"author":294,"featured_media":95699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[82],"tags":[168,6838,750],"class_list":["post-95698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-donald-trump","tag-mortgage","tag-trump"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/95698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/294"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=95698"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/95698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/95699"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=95698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=95698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=95698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}