So some of you may have heard by now that Trump is proposing a 50 year mortgage to help with the affordability issue. I don't believe this is the right solution and let me tell you why. I'm going to run some quick numbers for you. If you were to take out a $500,000 loan at 6.5%, in monthly payments you're saving about $340 a month. That's pretty substantial. But over the life of that loan you are going to be paying $550,000 more in interest payments. Okay! But most people don't hold their mortga
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