Will the 30 year mortgage become extinct?

Mortgage and Lending with Bank of England Mortgage NMLS #369577

30 and 15 year loans Annapolis MarylandWhen you look at the cost of a 30 year mortgage vs. a 15 year mortgage you immediately notice a very large number. That would be the number of $$$'s a 15 year loan can save when comparing the lifetime of each loan. Made popular decades ago, the 30 year mortgage was poised to put Americans in homes by offering low monthly payments. 

Just think about it....  30 YEARS  

Because a 30 year loan is so commonplace in today's society many of us lose sight of the fact of just how long 30 years is. And when that mortgage gets refinanced back into a new 30 year loan, it starts the clock all over again. 

Pride in ownership? Who actually owns their home?  check out the video below - 


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Re-Blogged By Re-Blogged At
Lending / Financial
Maryland Anne Arundel County Annapolis
Anne Arundel Co Maryland
Annapolis, Maryland
Maryland Real Estate and Mortgage Group
pride in home ownership
death of the 30 year mortgage
does anyone ever pay off their home
should a 30 year mortgage be forbidden

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June Piper-Brandon
Century 21 New Millenium - Baltimore, MD
Piecing Dreams One Home at a Time

Lewis, this is interesting.  Do you remember the days when we saved 20% to put down when we bought a house too?

Jul 04, 2010 11:04 PM #1
Lewis Poretz
Bank of England Mortgage - Annapolis, MD
Mortgage Loan Officer - Lending in 50 States

Actually I don't remember that.

Do you think that is where we are headed?

Do you think that will kill the American dream of homeownership for many families?

The next few years are going to be very interesting....

Jul 05, 2010 10:11 AM #2
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Lewis Poretz

Mortgage Loan Officer - Lending in 50 States

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