Comments on: 40-Year Mortgages http://www.consumerismcommentary.com/40-year-mortgages/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Mon, 21 May 2012 23:56:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: nickel http://www.consumerismcommentary.com/40-year-mortgages/comment-page-1/#comment-520 nickel Tue, 14 Jun 2005 19:20:15 +0000 http://wp.consumerismcommentary.com/?p=342#comment-520 I wrote about this article the other day, and I totally agree with your sentiment about pretending that unaffordable houses are affordable. This is just a bad, bad idea. At least if people are getting a fixed rate on these 40 year deals it won't get as ugly for them as it will for the people with short term ARMs once the rates start to climb. <a href="http://www.fivecentnickel.com/" rel="nofollow">fivecentnickel.com</a> I wrote about this article the other day, and I totally agree with your sentiment about pretending that unaffordable houses are affordable. This is just a bad, bad idea. At least if people are getting a fixed rate on these 40 year deals it won’t get as ugly for them as it will for the people with short term ARMs once the rates start to climb.

fivecentnickel.com

]]> By: Darren R. Sussman http://www.consumerismcommentary.com/40-year-mortgages/comment-page-1/#comment-519 Darren R. Sussman Tue, 14 Jun 2005 16:59:01 +0000 http://wp.consumerismcommentary.com/?p=342#comment-519 That's sad that our societal mentality has become not, "just buy what you can afford" but rather, "find a better way to borrow the money". I mean, I realize that in many cases there's just no alternative, but there has to be a stopping point, right? It's going to get to the point where no one can buy anything without taking on huge amounts of debt that they can never possibly get out of. That’s sad that our societal mentality has become not, “just buy what you can afford” but rather, “find a better way to borrow the money”. I mean, I realize that in many cases there’s just no alternative, but there has to be a stopping point, right? It’s going to get to the point where no one can buy anything without taking on huge amounts of debt that they can never possibly get out of.

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