New 40 Year Mortgages!

[San Diego Real Estate]

We are starting to see 40 year notes in the San Diego Real Estate Market! Due to the high price of homes! I bet we will start to see even 50 year Notes soon with the prices of homes here!

Anyone else seeing 40 year notes in your market? Anyone have any thoughts regarding the 40 year Notes?

[HMiller]

I haven't come across one yet, but the price appreciation coupled with predicted interest rate increases will surely make them much more popular.

[MaxSinclair]

WOW! People are going to be debt well into their 90's.

[San Diego Real Estate]

Thats right soon we will be just like Japan! Where the house debt passes from one generation to the next! ;)

[chachi]

Heh, banks are out of control. I guess they will do anything to get some business in this market. I remember 40 year amortization loans about 7 years ago in SD, but not many people went for them as the savings was not significant enough to stretch it out another 10 years.