SoCalMtgguy from “another F’d borrower” was predicting the introduction of 40 yr. loans last year. Therefore, to see a 50 yr. loan is not surprising.
This totally makes sense because there are a great number of people who are still fixated on monthly payment rather than actual debt. Car dealerships have been offering 5 to 6 yr (even 7 yr in some cases)finance options on the purchase of new cars. Who wants to take 6 years to pay off a Honda Civic!?
For 30 somethings like myself, I don’t want to be 70 or 80 yrs old by the time I pay off my house. Good lord….
