Introduction to the 50-Year Mortgage Proposal
President Trump recently suggested that the government should support the creation of a 50-year fixed mortgage. This proposal led to public discussion and generated several concerns.
Concerns included the potential for homeowners to remain in debt for extended periods, an increase in the total interest paid over the life of the loan, and a prolonged phase where payments primarily cover interest, thus delaying the reduction of the principal balance and equity accumulation.
Rep. Marjorie Taylor Green (R-Ga.) stated that such a mortgage