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Can they stop being so ridiculous that this woman has a chance to make sense? God,at the beginning of a 30 year mortgage, you are already paying mostly interest. Cut some of the principal off and now you are paying a couple hundred bucks less at most. Will they offer lower interest rates or will they jack up 30 year interest rates?
This is Trump we're talking about here. He will make this as self-serving as possible if it should even come to fruition. It will also be the absolute worst deal for anyone gullible enough to get on board. Think about these 10-year car loans and the like...people are taking them.
Do we even expect a modern house to still be intact in 50 years? Hell, can anyone expect to survive 50 more years the way things are going? Shit, maybe i will get in on this after all, lol
Interest should be illegal
The end result of this is everyone buys homes and cars in cash or they just invent something that is interest without calling it interest. They have that for certain religions who have a faith-based objection to interest. It seems dumb to me, but apparently structuring it with the interest rolled into the principal and called something else makes god happy.
To add to this: Christianity was one of those religions and it's the major reason why there are so many Jewish bankers. Jewish families were well-established in the industry long before Christians figured out there was money to be made in banking and loosened the rules
Dumbest idea in here.
Why is that?