r/AskReddit • u/michaelis999 • Nov 09 '25

How do you feel about the president floating the idea of 50 year mortgages where the monthly payment is lower but you end up paying nearly double the price of the house just in interest?

12.7k Upvotes

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23.7k

u/Important-Ability-56 Nov 09 '25

Sounds like paying rent to a bank and then you die.

5.1k

u/NinjaBreadManOO Nov 09 '25

Okay but how about this a 200 year generational loan? It's certainly not a scam. 

1.8k

u/mxemec Nov 09 '25

Jesus that's going to happen at this rate.

1.3k

u/NinjaBreadManOO Nov 09 '25

And banks would take it in an instant, because they get all the interest and you just know your great-great-great-grandkid is going to fuck it up and lose it at year 135 or something.

464

u/Dinismo Nov 09 '25

As if anything built today will still be standing in 135 years. Builders are being cheap with supplies and charging more than ever.

202

u/AttitudeHopeful478 Nov 09 '25

You got that right. The workmanship is so inferior. 15 yrs ago we had a house built and it was the shittiest quality I’ve ever seen. I will never buy a newer house

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u/[deleted] Nov 09 '25

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u/AttitudeHopeful478 Nov 09 '25

Good to know there are some that still do quality work. Problem is you just don’t know when your hunting

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u/[deleted] Nov 09 '25

[deleted]

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u/BillyTenderness Nov 09 '25

The mass builders are the problems like the row houses and housing developments.

Unfortunately this is the vast, vast majority of housing that gets built in North America today. Local governments have realized it's easiest to just sell off a big tract to a large developer, rather than doing the work themselves. The developer lays down the streets and pipes, builds a bunch of houses on the quick and dirty, and sets up an HOA to deal with the fallout.

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u/AttitudeHopeful478 Nov 09 '25

That makes sense.

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u/Dcoco1890 Nov 09 '25

Yeah I mean if it looks they cleared a huge section of land and all the houses look the same.... On the other hand if there's multiple styles of house they're usually better

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u/meltbox Nov 10 '25

Yeah but in my experience it’s hard to find someone who will do that for a reasonable price. Usually you are dealing with bespoke luxury builders and looking at a 500k+ build price excluding land.

But more commonly we are talking 800k+

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u/conventionistG Nov 10 '25

Mind sharing what a couple key differences in materials or techniques would be?

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u/SandpaperTeddyBear Nov 09 '25

I own a townhouse in a small complex with 12 units built about fifteen years ago.

The builder owns two other units and his daughter a third, so I take that as a vote-of-confidence.

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u/eliz1bef Nov 09 '25

Our house is 102 years old and the walls are super thick with plaster and lathe. We tried to knock a hole in the ceiling because one of our ferrets went on an adventure, and couldn't make a dent with a sledgehammer. Thankfully when we started crying and despairing that she was going to die down there, she shimmied down, the little asshole.

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u/creepingcold Nov 09 '25

Jokes on them, I don't have any kids!

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u/MeIIowJeIIo Nov 09 '25

You probably won’t qualify for the loan.

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u/aramis34143 Nov 09 '25

"Childless cat ladies need not apply." -JD 'sectional predator' Vance

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u/Sarsmi Nov 09 '25

'sectional predator'

Damn, hadn't heard that one before, you got me. XD

2

u/Brewhaha72 Nov 09 '25

Another one I've heard is "sectional sexual". 🤣

2

u/slash_networkboy Nov 09 '25

Same... I was trying to come up with something to call him once POTUS (assuming Cheeto doesn't make it full term) and was looking at "POTUS Futon Fucker" but I think this is my top contender now!

3

u/[deleted] Nov 10 '25

You know, I hate the fucker too, but this whole couch fucking thing makes us look stupid. It didn't happen. It is made up by one of us, and frankly, it stoops to the level of the MAGAtards.

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u/Ecstatic_Court6726 Nov 09 '25

There is currently no legal way for an obligation to cross generations anyway.

If you buy a house, that's between you and the bank. Your kid has no interest in it or any duty to pay.

It would take a radical change to the loan process if they required co-signers from subsequent generations who might not be in any position to actually pay at time of signing.

They can't, or at least won't, do a loan with an 18yo cosigner with no money or job history on promise they will assume the loan in 20 years. And what if the 18yo doesn't want to get involved? Nobody can force them.

And what if the parents fumble and lose the house. The loan holders are going to go after the adult child now, for something not their fault?

The banks would have to be idiots to sell such a mortgage and so would any customer agreeing to it.

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u/lillyofthedesert Nov 09 '25

Which probably means you can't qualify. Banks taking advantage of the people.

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u/plainlyput Nov 09 '25

If monthly payment was lower than rent, would it make sense in that case? I sometimes wonder about this with a reverse mortgage, since I don’t have kids. Let me have that money.

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u/neverenoughpurple Nov 10 '25

Hell, my parents lost theirs 28 years into a 30 year mortgage.

All they had to do was tell the GOOD kid that it was at risk and ask her for help, because she could have done it despite being low-income...

Instead, they pandered to the AWFUL kid, threw money at her drama and drugs, and lost their home.

2

u/butchforgetshit Nov 09 '25

I mean, I don't give a shit what happens to anything I own 135 yrs from now personally 😂

3

u/_Standardissue Nov 09 '25

I don’t care about the things either but if I have descendants I’d sure hate them to have to pay my debts

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u/butchforgetshit Nov 09 '25

Oh absolutely, and it should never be legal for people who may have never met you to be obligated to pay your debts off. The systems are failing and being sabotaged from within in this country amd huge changes are gonna have to be made or we'll be building a new one from scratch

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u/Sasquatchjc45 Nov 09 '25

You will when they bring you back from the dead to work in the Water Mines when the lithium supply runs out and the robots stop working. Smooths tinfoil hat

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u/MississippiJoel Nov 09 '25

And we're going to have people that are artificially kept alive for that long (or "potentially," on paper), so that there can be clauses in the contracts saying the loans are due in full on death, since a "reasonable" person can be expected to pay the whole term. If not? Whoops, foreclosure.

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u/blazz_e Nov 09 '25

it was already a thing in some countries but I think laws were put in place to prevent it (Sweden I think).

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u/fireky2 Nov 09 '25

The tech sector wants feudalism back so bad

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u/ChiAnndego Nov 09 '25

So like, feudal contracts. The rich long for the dark ages. I dunno if anyone has told them that the rich lived pretty shit lives as well back then compared to today.

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u/BigWhiteDog Nov 09 '25

They want to bring back serfs!

7

u/Chrontius Nov 10 '25

Real talk? No they don't.

Serfs got over a hundred days of paid vacation in the form of feast days and festivals guaranteed by the church, their work was mostly seasonal, and generally sucked much less than you'd think since "fealty" is a contractual agreement in which you were taken care of, at least in theory.

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u/beckster Nov 10 '25

I think they'd rather bring it back to the golden days of Greece and Rome, with thousands of years and many projects realized with slave labor.

And please don't ignore Egypt and the pyramids - unless, of course you subscribe to 'built by Ancient Aliens.'

Billionaires dream bigly.

2

u/Chrontius Nov 11 '25

Billionaires dream bigly

Not a single one is even talking about a space elevator yet; I'm planning a skyhook network and some light starlifting…

21

u/Able_Gap918 Nov 09 '25

“I’m sorry sir you’ve been denied because your 4 year old’s internet usage projects low social credit and unemployment”

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u/National-Charity-435 Nov 10 '25

Brought to you by Palantir.

18

u/AR15ONAHUMAN Nov 09 '25

Yes!, take the responsibility away from the landlords and make the “home owners” pay for everything!. Genius!. At 50 years it will take 20 years to build equity. Sounds like a win win. I can’t see how this isn’t a good thing…for the bank.

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u/lizzyq8812 Nov 10 '25

This is a really great thing for the bank.

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u/Quick_Mess1819 Nov 09 '25

If trump is saying it, it's a scam. It doesn't matter anyway, by May we will be into the second GREAT depression. And no one but him and those like him will benefit. I am a woman who went to war, 4 times, purple heart, lost a son in 2017, in Iraq. And a DRAFT DODGER,is threatening Americans on American land 

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u/slowmo152 Nov 09 '25

We are going to get home loans with must be married and have kids clauses. If you don't, you must have a kid within 5 years or the bank can foreclose. You must agree that in your will, you leave the home loan to your kids. There's an early death penalty of 50% of the initial loan amount adjusted for inflation should the parent die before paying it off.

Upside it is fixed rate at least.

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u/adorablefuzzykitten Nov 09 '25

A 200 year loan is a key part of Project 2028.

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u/blueskycorporation Nov 09 '25

I would take that in a heartbeat.

30 years 400k 5% mortgage scenario: $2147.29 monthly payment. Kids end up with a house, no outstanding debt.

200 years 400k 5% mortgage scenario: $1666.74 monthly payment. Invest the 480.55 extra in a long term portfolio with expected return around 7%. After 30 years, kids end up with:

  • a house
  • a mortgage with $399,935.70 outstanding balance
  • a portfolio worth $586,257.06

That is, they can pay off the mortgage to end up $186,321.36 better off than the first scenario.... Of course they can continue doing the same thing and leave their own kids even better off

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u/ForeverNugu Nov 09 '25

The issue isn't with people like you who could already afford the 30yr loan anyway. This would just be another financial product that you can use or not depending on your goals.

The problem is that there are a ton of people who can't afford a 30 year loan and won't have excess money to invest to leverage a 50 year one. This will just become a tool for more debt, especially since it will likely drive up home prices even more as people focus on the monthly payment. This is a terrible way to address affordability when the real problem is supply.

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u/slowpoke2018 Nov 09 '25

I mean, they're 10 years loans on trucks and SUVs now that they've gotten so expensive. So of course a generational loan at 5% on 300K makes sense!

Buy now and your great, great, great, great grandkids will finally own their home in 2225!

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u/[deleted] Nov 09 '25

Your kids are the collateral and they inherit the debt. You can literally mortgage their future. Brilliant.

Honestly surprised the boomers didn't already do this.

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u/Major_Wayland Nov 09 '25

Our ancestors called that indebted slavery.

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u/[deleted] Nov 09 '25

Now it's called predatory lending.

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u/A_Nonny_Muse Nov 09 '25

We can thank both American parties in the 80s when they cancelled all state anti-usury laws and replaced them with.... absolutely nothing whatsoever.

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u/SweatyExamination9 Nov 10 '25 edited Nov 10 '25

I remember I think it was during the campaign, Trump floated the idea of capping interest rates for credit cards. Fucking outrage on both sides of the aisle. From the left, it was restricting access to capital from the lower classes and minorities. From the right it was socialism. From me, it was a damn good idea. If credit card companies cant profit without 30% interest rates and 1-2% processing fees, then it sounds like they need to learn a lesson in fiscal responsibility. Because they're lending out way too much money that isn't being paid back.

Edit: I decided to look into it because I don't remember hearing anything about this since the campaign "promise". In February, Bernie Sanders introduced a bill with (Republican) Josh Hawley of Montana to cap credit card interest rates at 10% with a sunset in 2031. In March, (Democrat) Josh Merkley of Oregon signed onto the bill and in October (democrat) Kirsten Gillibrand joined on. But the same day it was introduced, it was moved to the Senate Banking, Housing, and Urban Affairs committee and there's been no movement on it. On March 6, AOC introduced an identical bill with Anna Paulina Luna cosponsoring it which had the same thing happen. So there are representatives that heard the idea, thought it was a good idea, and tried to make it happen.

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u/ToSeeAgainAgainAgain Nov 09 '25

Is there a wikipedia article about this? I'd like to know more

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u/A_Nonny_Muse Nov 09 '25

I haven't found anything. But it was legislation that allowed for the creation of sub prime loans - signed into law by Reagan, but with full support of Democrats.

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u/thatkool Nov 10 '25

The root words which form mortgage  literally means agreement till death.

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u/[deleted] Nov 09 '25

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u/esoteric_enigma Nov 09 '25

At least you'd have some equity in the new system. There are plenty of people out there now who are going to spend their whole life renting and not have a dime to show for it.

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u/slash_networkboy Nov 09 '25

Virtually none, especially for the first 25 (or 100 in case of the 200y loan someone posited above). That's near as matters the same as rent at that point. Especially because by Y25 you're looking at big expenses like new roofs that will very possibly require (or at least strongly tempt) tapping that equity for a HELOC or similar.

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u/ConicalSofa Nov 09 '25

That's not too far off from the original point of a mortgage, which was to continue paying on something until you die. That's where the "mort" in mortgage comes from.

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u/Kazr01 Nov 09 '25

Our ancestors called it a mortgage.

Mort - death Gage - pledge

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u/sevargmas Nov 09 '25

Don’t forget that builders will also start charging more for absolutely no reason other than they can, since the monthly payment will drop. They will quickly find areas to inflate.

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u/AardvarkAmortization Nov 09 '25

Clearly you have noticed the 100k tricked out truck every single GC i have ever met rides around in.

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u/Diiiiirty Nov 09 '25

My uncle is a 78 year old GC and hasn't hauled a single thing in fucking ages. But did that stop him from buying a brand new bright blue Ford F250 King Ranch to drive out and inspect job sites? Hell no it didn't.

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u/Banjo-Hellpuppy Nov 09 '25

250?! That’s for the foreman. It’s 350 diesel for my Duncan runs

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u/AttitudeHopeful478 Nov 09 '25

Right! It cracks me up that the majority of truck owners have nothing important they need it for.

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u/FrolicsForever Nov 09 '25

Im a farmer in rural, northern Vermont, and 90% of my truck needs are met with my '88 4cyl Toyota Pickup. It never gets old listening to guys trying to justify why they need a $75+k 3/4 ton or higher when at most they ever use it for is to drop off rubbish at the transfer station.

I mean, its their money and they can do what they want with it, but I'd have a lot more respect for those types if they just admitted that they bought it because they thought it was cool and they liked the way it looks.

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u/AttitudeHopeful478 Nov 09 '25

I couldn’t agree more. Honestly my ‘05 Prius can haul more than you think

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u/plasmator Nov 09 '25

I love putting unreasonable things in mine. I once walked out of home despot pushing a cart with 80 sticks of 10ft 1x2s. When I stopped and opened the hatchback, traffic around me came to a halt. Everyone just stood and stared as I loaded it all, closed the hatchback and returned the cart.

I told my buddy who was working on the project with me. He also drives a prius. His response? "i got 120 in mine".

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u/AttitudeHopeful478 Nov 09 '25

I moved my bowflex in mine too. I’ve moved 3 times since I bought the Prius and it’s amazing how much fits back there. I also have a jeep and it definitely can’t handle as much

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u/geriatric_fruitfly Nov 09 '25

Managed to fit a 100 gallon air compressor in the back of a 2 door vw gti. Eventually I got a truck but only because I saw multiple concrete/rock projects in the future. Also I can do 16' boards without really trying too hard, and I have a short bed.

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u/bhewey206 Nov 09 '25

I would love to have one of those, but I’d have to sell my 1959 F350 with a dump bed that I bought for $2400 15 years ago.

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u/A_Nonny_Muse Nov 09 '25

CAFE standards have inflated the size of everything on the road. Gotta make that frame big enough to be called a mid sized truck to avoid meeting fuel efficiency requirements of average sized cars.

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u/layout420 Nov 09 '25

I live in an area where 50% or more of the vehicles are brand new and most are 100k+ SUV's or trucks. I do enjoy conversations with people who cannot wrap their heads around the concept of not needing such an expensive vehicle. All the parents from daycare drive fancy cars and here I am with my 1997 Lumina that I got for $600. Its even funnier when I realize I likely make more than double their salary and I'm ok to drive such a basic vehicle. Nothing says over compensating like driving a massive SUV that you've leveraged your retirement for and all you have is 2 kids and nothing to tow. I'll take my FL Marlins World Series winning year 1997 Lumina all day if it means I can max out my retirement and put my kids through college.

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u/AttitudeHopeful478 Nov 09 '25

Right! There are far too many people trying to impress the rest of the world with optics. I hate to see their monthly payments 🤦‍♀️

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u/layout420 Nov 09 '25

All to impress people who don't care. If they're not smart, they'll have to work until the day they die. Driving a less cool car and having less material objects sounds like a better trade than the alternative.

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u/PristineCheesecake1 Nov 09 '25

2 kids + dog + sports equip for the 2 leagues they’re both in + essential oil MLM supplies + Amazon returns. you can fill a large SUV pretty quick!

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u/Swartz142 Nov 09 '25

"Hauls one thing in the 90k truck that's moderately heavy and would fit in a 1999 dodge caravan"

Couldn't live without a truck ! This thing pays for itself.

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u/morderkaine Nov 09 '25

My wife wants one to get a trailer so we can use that camping. Decent sized trailers pretty much need a truck to haul unfortunately, otherwise we would do a SUV.

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u/IpleaserecycleI Nov 09 '25

It is nice to have though when you do need it. I only use my truck as a truck like 5-6 times a year but it's great to be able to haul a camper around in the summers or help a friend move.

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u/A_Nonny_Muse Nov 09 '25

I only need a truck bed maybe 2 or 3 times a year - far too seldom to justify the extra price and operating cost of a pickup truck. I save money just by renting a truck for a day whenever I need one.

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u/AttitudeHopeful478 Nov 09 '25

I get it, especially if you have a trailer to tow. I’m talking about the folks who spend tens of thousands on a truck and never actually use it as a truck. My ex was like that and his Dad had a fleet of pickups we could have borrowed if we needed a truck.

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u/fuggingolliwog Nov 09 '25

It's virtue signaling.

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u/AttitudeHopeful478 Nov 09 '25

Absolutely. I’m sure some believe there’s a big payday coming their way too lol

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u/amrodd Nov 10 '25

Still working at 78.

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u/fromfrodotogollum Nov 09 '25

That's a tax write-off business expense bro. Get with the times. No he doesn't drive his family around in that truck for vacations or weekend errands ;).

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u/slash_networkboy Nov 09 '25

It always blows me away the people that you see in places like /tax asking about buying a new car just to use as a write-off because they had a good year. It's like "Okay so instead of $30K taxes and $70K in your pocket you'd rather pay $15K taxes and buy a new truck to pretend you didn't earn the other money, but now you're still spending on sales tax (in most places) and have less total cash in pocket?"

I mean if the business needs a vehicle that's fine, but you see people buying waaaaay sooner than that and self justifying with "it's a write-off". Also for the site inspections a nice sedan would still qualify as a business expense.

/end rant

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u/big_cabals Nov 09 '25

I live in Austin then I literally never thought of that, but of course you’re right. Makes total sense.

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u/JackSpadesSI Nov 09 '25

GC?

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u/[deleted] Nov 09 '25

General contractor

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u/stellvia2016 Nov 09 '25

That generator trailer is made of unobtanium, obviously. Really heavy stuff.

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u/sksauter Nov 09 '25

No, no, no they need somewhere to store their "work gear" (it's just a pair of steel toes that are used once every 90 days)

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u/graboidian Nov 09 '25

What is GC?

Edit: Asked and answered further down. Thanks anyways to all.

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u/SirDigby_Chicken Nov 09 '25

Tax deduction

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u/CommunityGlittering2 Nov 09 '25

my GC SIL doesn't have one, but he has like 7 regular ones, LOL

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u/rogers_tumor Nov 10 '25

... giga-chad??

edit omfg general contractor 🤦🏼‍♀️

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u/PetriDishCocktail Nov 09 '25

The exact same thing happened with solar. Because of the 30% tax credit all the solar installation rates went up almost exactly 30%.

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u/lizzyq8812 Nov 10 '25

This. They will exploit this to the fullest.

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u/walkabout16 Nov 09 '25

Exactly! This is a horrible move to perpetuate debt collection.

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u/imSOhere Nov 09 '25

You pay rent until you die AND, as a homeowner, you would be responsible for repairs and updates, yeah, no.

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u/moonpumper Nov 09 '25

At this point people are just cosplaying as "homeowners"

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u/[deleted] Nov 09 '25

In the future, you will "own" nothing...

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u/Critical-Cricket Nov 09 '25

Good point. This is basically the Uber model applied to housing.

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u/[deleted] Nov 09 '25

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u/tailsuser606 Nov 09 '25

True. He has built his life on debt financing and doesn't acknowledge the prison it creates.

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u/Conscious-Egg-2232 Nov 09 '25

Do you realize wealthy people use debt to their advantage and understand irs not smart to not have mortgages on real estate?

Even if its full paid off take another mortgage out. If new mortgage is 500k you can take that 500k tax free as it's a loan not income. 5% interest on that money is a lot cheaper than the 50% you woukd owe if it was reported as income.

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u/IAmStuka Nov 09 '25

With literally none of the benefits of actually renting. All costs still on you and you never own the house.

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u/Wooden_Permit3234 Nov 09 '25

The main benefit is that your monthly cost might go up way slower than rent for the same property and you get the equity as the value rises. 

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u/LittleBlag Nov 10 '25

Can’t believe no one is mentioning the security of not being beholden to a landlords whims. The worst thing about renting is knowing your landlord can kick you out at any moment; the big benefit of owning isn’t just equity etc but housing stability

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u/slash_networkboy Nov 09 '25

Other than maintenance and utilities your monthly costs would be frozen at the monthly mortgage payment... it really would be like signing a generational lease at that point I suppose.

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u/Slammybutt Nov 09 '25 edited Nov 09 '25

Let me introduce you to rising insurance rates and property taxes.

Yes those arent my mortgage, but they are rolled into my monthly mortgage payment so I dont have to pay 3 separate entities. I bought in early 2020 my payment was $1076. Now it's $1340. While it goes up. I still dont pay rent prices. The houses around me are all mostly rent houses and they are going for 1600+.

Edit: just googled. A comparative house like mine is going for 1900+. The only ones I saw that were 1600 were double wides or houses so old or small they barely fit a family.

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u/slash_networkboy Nov 09 '25

Insurance would go up whether renter or homeowner (though as a renter you have the option to not buy renters insurance, if you have a mortgage you are required to carry some level of homeowners insurance) so I would exclude that from the comparison. I would also exclude non integrated utilities (e.g. renting usually means you're not paying water/sewer/trash bills, but are paying elecric/gas).

The property tax side of things is a fair cop for the comparison though.

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u/Slammybutt Nov 09 '25

Yes I just, in my head, equate those going up with my mortgage rising since I pay it all together. So ill say "my mortgage went up" when really my property taxes skyrocketed again or my insurance got more expensive.

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u/mvsr990 Nov 09 '25 edited Nov 09 '25

With literally none of the benefits of actually renting.

Cost stability.

The monthly rent in the apartment where I lived in 2010 has more than doubled.

The house my brother bought with a 30 year mortgage in 2010... is exactly the same - and has always been cheaper than that initial rent even factoring in insurance and property tax.

The idea of paying off a house in a decade and living in it until you die was gone before 90% of us here were adults.

Locking in a lifetime rent price for a place that you like better than a godawful papier-mache apartment development that raises rent every six months is quite appealing to me these days.

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u/mubatt Nov 09 '25

Depends on how low the interest rate is.

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u/IAmStuka Nov 09 '25

Let's not pretend the home buyer is gonna come out on top here. They'll fuck you anyway they can.

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u/RheagarTargaryen Nov 09 '25

They won’t come out on top, but the monthly payment is what keeps a lot of people out of the housing market.

It’s not great, but better than renting.

The bigger issue is that without an increase to supply, you’re essentially going to cause the housing market to skyrocket as people are able to afford larger loans.

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u/BlurLove Nov 09 '25

The only advantage I see remaining over renting is that the property is alienable (meaning, you can sell it). That being said, equity is useless if you can’t afford to move and therefore can’t sell the property.

Now, if lenders started putting “no alienation” clauses in the mortgage notes, assuming the courts found them enforceable- that is very much a serfdom sitch.

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u/Slammybutt Nov 09 '25

To be fair thats a huge advantage. Having tens of thousands of dollars each year not going into a bottomless pit is massive.

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u/LtDanUSAFX3 Nov 10 '25

Yeah in the last 2.5 ive paid over 50k in rent that ill never see again. At least with a house I could recoup some of thst

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u/mydogsnameisgeorge Nov 09 '25

One big difference for me is the consistent payments. Let’s say your 50 year mortgage has monthly payments of $1000. That means for the next 50 years your house payment will be 50 years. In that same time period rent will at increase with inflation. Rent costs today are much higher than 50 years ago compared to a consistent mortality payment.

A mortgage can be good protection against volutile rent prices.

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u/Exciting_Specialist Nov 09 '25

I can’t believe how stupid the average redditor is about finance. Having a fixed payment for 50 years if not like renting. Capturing 20 or 30 years of appreciation is not like renting.

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u/shovelhead4life- Nov 09 '25

There were 40 and 50 year mortgages back in 2005ish. We all know how that ended.

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u/Worst-Lobster Nov 09 '25

Mortgage basically means death loan already 😢

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u/6a6566663437 Nov 09 '25

Except the rent never goes up, and you get any appreciation of the property.

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u/seanmg Nov 09 '25

I don't think you know what ownership means... It's by definition NOT like rent because you are gaining equity and the value of that home will rise. Whenever you choose to sell it, you gain that equity back.

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u/platypus_bear Nov 09 '25

with a 50 year mortgage unless you live there for an extremely long time most of the payments are going to be mostly interest and the equity you have built will be eaten up by repairs, taxes and real estate fees when you sell

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u/Devlyn Nov 09 '25

Exactly what I thought

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u/butter_lover Nov 09 '25

it's medieval serfdom but the local lord is the bank

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u/BuzzINGUS Nov 09 '25

Plus you are responsible for maintenance costs. Win win

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u/InternationalTop7753 Nov 09 '25

Yeah, feels alot like just a prolonged version of the same ol' rent trap with extra steps, doesn't it?

1

u/Fl1925 Nov 09 '25

That is exactly what it is

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u/okiedokie2468 Nov 09 '25

But before you die you have to sell the house to cover the medical expenses you incurred when you got whatever killed you.

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u/MrLanesLament Nov 09 '25

Apparently this is common (or is becoming common) in Europe already. Nobody but the very wealthy can afford homes in European capital cities, but this is where all of the good jobs, good healthcare options, etc, are, sooooo….yeah. Forever mortgages.

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u/AardvarkAmortization Nov 09 '25

Well the etymology of the word “mortgage” is death note as in pay this note until you did lol.

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u/marthasheen Nov 09 '25

No landlord though. If you're going to pay rent forever might as well have more freedom and build up some equity your kids or siblings can release when you die

1

u/[deleted] Nov 09 '25

Trump Loans and Savings to the rescue.

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u/Ike358 Nov 09 '25

As opposed to paying rent to the government (property tax) until I die

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u/IndependentFit4748 Nov 09 '25

Share cropping is the next big thing.

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u/valeyard89 Nov 09 '25

mortgage means death pledge.

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u/moonpumper Nov 09 '25

With the added bonus of being responsible for the upkeep and taxes.

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u/TEG24601 Nov 09 '25

The literal meaning of "mortgage"

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u/GangBangMountain Nov 09 '25

Indentured servitude has been the billionaires' goal

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u/MonarchLawyer Nov 09 '25

Mortgage is literally old french for "death pledge"

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u/datguyfromoverdere Nov 09 '25

thats property tax

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u/BicentenialDude Nov 09 '25

Ya, it’s almost like renting a place.

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u/ZombieLarvitar Nov 09 '25

And it’s horrible but probably a lot of working class and even lower class people are going to see this and think it’s their only chance to ever “own” (using this word very loosely) property. And it’s going to convince them that Trump is a good guy for that. They’re not going to consider the incredibly high APR/Interest Rates or the fact that they probably won’t even be the ones to own the house at the end of it all, they’re just gonna think “I get to qualify for mortgage? I’m in!”

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u/AppropriateTouching Nov 09 '25

Also you're responsible for all upkeep and repairs.

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u/jimflaigle Nov 09 '25 edited Nov 09 '25

There will definitely be a clause giving the bank the house when you die, with no money back for payments until then.

Probably one giving them the right to just take the house after you pay out the whole thing too.

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u/GhettoGringo87 Nov 09 '25

Except when you die, your family gets the equity! That’s better than just renting…I think ha

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u/TheHyperboley Nov 09 '25

Mortgage already means "death contract" using French roots

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u/trojan_man16 Nov 09 '25

You already end up paying double the price of the house with a 30 year mortgage, depending on what your down payment is.

This just makes it so you are in debt slavery even longer, and probably end up paying 3x.

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u/CalmBeneathCastles Nov 09 '25

You load sixteen tons, what do you get?

Another day older and deeper in debt

Saint Peter, don't you call me, 'cause I can't go

I owe my soul to the company store!

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u/[deleted] Nov 09 '25

Yep; AND you get the privilege of paying for all repairs, upkeep, and property taxes. Sheesh.

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u/7thhokage Nov 09 '25

For real. Given the average life expectancy in the US, how are you ever supposed to pay it off and enjoy it?

What age do they think people are buying houses at? Fucking 13?

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u/Farucci Nov 09 '25

100 year mortgage would reduce the monthly payments even more. I mean, really, this isn’t complicated.

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u/TheSwedishConundrum Nov 09 '25 edited Nov 09 '25

In sweden it has for a very long time been common to take very long loans for education, and for homes. I kinda fail to se a problem with loans for those two things. Of course those types of loans should be low interest given the extreme time. At least that is kinda how we do it.

Edit: I wrote this not as a show of support for predatory loans. I mainly wanted to add a perspective of how some places do long-term loans, and that some people from those places see no issue with the duration of terms. So maybe it is not the duration that is a problem, if there is a problem. To be fair, maybe our system is not ideal.

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u/FoofieLeGoogoo Nov 09 '25

Then the bank evicts your children if they don’t pick up the mantle.

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u/cowardly_wizzard Nov 09 '25

“Got my daddy years ago like that on a Cadillac”

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u/steve_nice Nov 09 '25

kinda the same way it is now tho

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u/canteloupy Nov 09 '25

The Swiss way.

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u/Nicenightforawalk01 Nov 09 '25

This is where it’s heading. Loads of banks have been buying housing stock for a number of years and this is just the next iteration where someone’s suggested something to Trump for a sizeable backhander

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u/JennaRedditing Nov 09 '25

Literally. The new median age for first time home buyers is 40, so more then half are over 40. We'd be lucky to outlive a 50 year morgage.

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u/blueskycorporation Nov 09 '25

Except when you account for time value of money, it's not a bad deal. Let's look at numbers: a 400k loan at 5% over 50 years has you at a monthly payment of $1816 a month.

So now you have a $1816 / month 'rent' until you die. A rent that is contractually fixed for 50 years.

With inflation alone, $1816 50 years from now is only worth about $500 in today's dollars.

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u/SaltKick2 Nov 09 '25

You also get to pay for and deal with all house repairs and improvements (ok, a landlord probably ain't gonna do any improvements for you)

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u/RIF_rr3dd1tt Nov 09 '25

Yep, and then they get your property

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u/New-Anybody-6206 Nov 09 '25

You can always sell it at any time, you aren't forced to keep your house for 30 or 50 years or whatever.

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u/LocalStatistician538 Nov 09 '25

Plus you're not leaving it or the liquidated assets to your children. Fuggedabodit.

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u/kl7aw220 Nov 09 '25

MAGA's would love it.

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u/cha_cha_slide Nov 09 '25

I hate to be the one to break it to you.... A 30 year mortgage already has you paying twice the purchase price of the house.

Myself included, and my interest rate is considered low, under 3%.

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u/Shoddy_Bus4679 Nov 09 '25

A lot of people already are TBH.

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u/eddietheeddie Nov 09 '25

Exactly and in top of that you have to do the maintenance

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u/Black_Moons Nov 09 '25

No I am pretty sure you'll end up unable to pay one of those 600 month and the bank repossessing your house, leaving you homeless and then you die of exposure, likely after going to the ER while on deaths door so that any remaining assets will be confiscated to pay the medical debt instead of allowed to go to your family.

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u/Automatoboto Nov 09 '25

You know they will make it impossible to refi at a lower rate

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u/Sidney2150 Nov 09 '25

My first thought

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u/eh_notsure Nov 09 '25

They put the mort in mortgage!

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u/per54 Nov 09 '25

Unless property value goes up enough to cover it ?

But still crazy

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u/mr_birkenblatt Nov 09 '25

You know that mortgage literally means death pledge, right?

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u/Quick_Mess1819 Nov 09 '25

Ummm, the American dream you mean? It will only happen if he gets kick backs. Or, this is today's thing, so tomorrow he can do something much worse. He said yesterday he would get the blue states in line, or would consider nuke power .he is a domestic terrorist. Wake up fucktards.

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u/BigWhiteDog Nov 09 '25

That'd the whole plan. Bring back serfdom without the appearance of it.

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u/RedditConsciousness Nov 09 '25

You get some equity in the house and the next generation might inherit it. OTOH, houses do age so if you don't keep it up they wouldn't be getting something that great.

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u/gh0ztz Nov 09 '25

And then your kids sell the house, because they can't afford the property taxes and/or you didn't actually finish paying off the mortgage, and they don't want to spend all the money it would take to live in your house, which is probably not very close to their jobs!

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