XPost: fl.politics, houston.politics, tx.politics   
   XPost: az.politics, ny.politics   
   From: RegulationReform@USA.com   
      
   On 1/6/2020 3:15 PM, Regulation Of Commerce wrote:   
   > 250 Year Fixed, No Doc, 100% Loan-To-Value, Conforming Loans are needed.   
   >   
   > A 250 year fixed payment is equal to an Interest-Only payment.   
   >   
   > We can still have teaser rates for the first 5-10 years, to build equity and   
   then   
   > refinance.   
   >   
   > The 5/1's are still a time bomb waiting to happen, as soon as the housing   
   market   
   > falls again.   
   >   
   > Mortgages with adjustable payments are a time bomb waiting to happen, as   
   soon as   
   > the housing market falls again.   
   >   
   > The payment must stay the same for the life of the loan, though the rate can   
   change.   
   >   
   > The 250 Year Fixed, 100% Loan-To-Value, Conforming Loans are needed, No Doc   
   for   
   > primary loan, doesn't have to be a residence, one could rent as a vacation   
   property.   
   >   
   > No two years of employment proven.  Buy at will, to live in or rent as   
   vacation   
   > property.   
      
      
   With a normal 30 year fixed, you pay double the price of the home over 30   
   years to   
   interest, but the house doubles in value, and you get your interest back.   
      
   Here, after 30 years, half the home would be paid off.  For instance, what   
   started   
   as a $500,000 loan on a $500,000 house, is now a $500,000 loan (technically   
   $499,946.60)  on a $1,000,000 house.  In another 30 years, or 60 years total,   
   another half the home would be paid off again, so 75% total, now a $500,000   
   loan   
   (technically $499,769.65) on a $2,000,000 house.   
      
   (Lending requirements on manufactured homes, which only have a life expectancy   
   of   
   30-55 years are different.)   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)