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Just PoliticsLeisure
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 Beware the 50 year mortgage!!!
Posted by Jahari Davis on 5/14/06 1:37am

I saw this article and thought..."It has begun!" A 50 year mortgage?!!! I've heard of some crazy things but come on...a 50 year mortgage? I dont know about you guys but I dont wanna be paying for a house into my 80's. You'd stand a better chance borrowing from a guy named Momo in Jersey. I mean come on. Predatory lenders are salivating at the idea of a 50 year ARM mortgage, because they know they can slap compounding interest for the first 15 years on it at like 12% and call it good...and people that dont know any better will be cool with it!!! Watch and see peeps. Watch and see.
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