Video Transcript
It's a distraction. This talk of a 50-year mortgage. It's a "Hey, look over here"- type of tactic to shift your attention away from things that might actually happen because a 50-year mortgage is not going to happen. At least not in any mass-market kind of way because there's no system and no infrastructure no history for public markets to absorb a 50-year loan, securitized. Lenders can make them. But who on Wall Street is going to buy them? And that leaves just the private market and the private market for 50-year mortgage loans doesn't exist. It's already been shown to not be a good bet. When you hear the term "creative financing", remember that that's a euphemism because we've seen this film before. Actually we did see this film, it became a movie. You've seen it -- The Big Short. So everyone, especially you the home buyer, stop spending time on these sideshow acts. Focus on the main show where the actual action happens. It's a better way ahead. I'm Dan with Homebuyer.com. Happy homebuying.
What Every Mortgage Person Thinks About The 50-Year Mortgage
The discussion around 50-year mortgages is viewed as a distraction by industry experts. There is currently no market infrastructure to support these loans on a mass scale, making them unlikely to gain traction.
Video Transcript
It's a distraction. This talk of a 50-year mortgage. It's a "Hey, look over here"- type of tactic to shift your attention away from things that might actually happen because a 50-year mortgage is not going to happen. At least not in any mass-market kind of way because there's no system and no infrastructure no history for public markets to absorb a 50-year loan, securitized. Lenders can make them. But who on Wall Street is going to buy them? And that leaves just the private market and the private market for 50-year mortgage loans doesn't exist. It's already been shown to not be a good bet. When you hear the term "creative financing", remember that that's a euphemism because we've seen this film before. Actually we did see this film, it became a movie. You've seen it -- The Big Short. So everyone, especially you the home buyer, stop spending time on these sideshow acts. Focus on the main show where the actual action happens. It's a better way ahead. I'm Dan with Homebuyer.com. Happy homebuying.
