50-Year Mortgages: Game Changer or Debt Trap?

On November eleventh, a new proposal from the Trump administration could revolutionize homeownership for many Americans. The plan introduces a fifty-year mortgage loan, aiming to tackle home affordability issues. This could lower monthly payments, potentially opening homeownership to more people. However, housing experts warn of potential negative consequences, including increased long-term costs and slower equity building. The proposal also faces legal challenges, with current regulations limiting loan terms to thirty years. The White House will announce any official policy changes.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.