Wrong -these are very real. Check with your local mortgage broker. Depending on the price of house you are looking to buy, you aren’t saving much money at all in lower priced houses, but then again, this is cut out for the crazily priced houses over $300,000 I guess. That’s why this product is big in California.
Advice: This product is only beneficial to short term owners (less than 5 years). Good luck! References :
stay away from them! it’s simply a new method of the mortgage industry to create new business … way too many people were suckered into ARMs and interest-only mortgages … foreclosures will skyrocket in a few months … get a new home on the cheap! References :
February 27th, 2010 at 4:32 pm
Sorry, no such thing
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February 27th, 2010 at 5:21 pm
we used contrywide, very little out of pocket, low fees and good rates
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February 27th, 2010 at 5:35 pm
Wrong -these are very real. Check with your local mortgage broker. Depending on the price of house you are looking to buy, you aren’t saving much money at all in lower priced houses, but then again, this is cut out for the crazily priced houses over $300,000 I guess. That’s why this product is big in California.
Advice: This product is only beneficial to short term owners (less than 5 years). Good luck!
References :
February 27th, 2010 at 6:25 pm
Why in the world would you want to pay for a house until after you’re dead. You need a 15 year fixed rate.
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February 27th, 2010 at 6:58 pm
Yes, there is such a thing. I saw it online somewhere a few days ago.
Gee, I can’t imagine the interest on that!! (ugh!)
OK, I searched. Put "50 year mortgage" (in quotes) in your search box. You’ll get pages of info & sites.
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MSN Search
February 27th, 2010 at 7:31 pm
stay away from them! it’s simply a new method of the mortgage industry to create new business … way too many people were suckered into ARMs and interest-only mortgages … foreclosures will skyrocket in a few months … get a new home on the cheap!
References :
February 27th, 2010 at 7:47 pm
We do 50 year loans
Contact Roger at (415)254-9410
Branch manager at Golden Horizon Mortgage
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