Posted by Charm_AL on 7/13/05 10:15am
Msg #51581

40 year loans...

I heard that fannie Mae is or is going to start offering 40 yr loans, anybody else know anything more?
Brenda that Source of Title newsletter drives me nuts. Now I know why you subscribed.
I'll do the same when biz picks up.

Reply by BrendaTX on 7/13/05 10:21am
Msg #51583

I love the information I learn there. Even if it is not something to make me get more business today, the tidbits are enjoyable to me...and help me learn more about the industry.

Reply by Melody on 7/13/05 11:11am
Msg #51603

I've already signed a few

The packages are no different than longer and shorter term loans.

I would never do one for myself. The monthly payment savings isn't much in exchange for 10 more years of payments. And the equity builds so slowly!

Reply by Charm_AL on 7/13/05 11:12am
Msg #51604

Re: I've already signed a few...Thanks!...n/m

Reply by Bobbi in CT on 7/13/05 11:36am
Msg #51609

40 year mtgs been out in the market place ...

Been out there as a mortgage product for at least the past ten years.
In olden days borrowers just didn't want to commit to that long a term.
They had high hopes of paying their mortgage off in 15 - 30 years and living "debt free". Oh, how times have changed.