The media at large seems very excited about FHA loans being able to be adjusted to 40 year terms in cases where the borrower is in a tight spot. But does it make sense to extend the indebtedness of someone that is already in financial trouble? Extending a mortgage out to 40 years takes all the worst elements of a loan and makes them worse.
In todays show we are going to discuss this and see if we can cover the issue and come to some conclusions.
Links:
- https://finance.yahoo.com/news/government-policy-could-help-keep-170000286.html
- https://www.jvmlending.com/blog/why-i-hate-40-year-mortgages/
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