(Crankers) Radio guy and podcaster Chris Stigall has been a right wing Trump supporter for years, but him and many others are speaking out about the completely stupid idea of a 50-year-mortgage.
Stigall said, “Trump’s 50 Year Mortgage Plan? Wrong Solution for Young America. They need freedom, opportunity and faith in the free market. Trump Is Still America First-But 50 Year Mortgages Are Not.”
Stigall then went into reasons why it’s wrong in one of his videos, which is embedded below.
I can tell you why the 50-year-mortgage is wrong.
Do you want to pay interest to a bank for 20 extra years? OK, that’s why it’s wrong.
Do you want to pay off your house? OK, well you pretty much never will with a 50-year-mortgage and the bank will probably steal the home from you at some point.
Are you getting the point yet?
If it’s good for the banks, then it’s not good for us, and it’s not good for America.
Lower the interest rate.
Kick the freeloaders out of the homes.
Fix the housing market.
You don’t fix the market by introducing another problem like adding 20 years of interest and giving the banks free money.
Now here’s Chris’ video for you to enjoy: