Trump's 50-Year Mortgage: Pros, Cons, and Challenges

Former President Donald Trump proposes a fifty-year mortgage option to boost home affordability, sparking interest from the Federal Housing Finance Agency. This extended loan term could lower monthly payments but would also slow equity build-up and potentially increase total interest paid. The plan faces hurdles, including changes to the Dodd-Frank Act and potential congressional approval, and may come with higher interest rates. Critics argue that addressing inflation could be a more effective solution for housing affordability.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.