I can't wait

 wait for you to change your mind

It’s late, I’m trying to walk the line
Well, it’s way past midnight and there are people all around
Some on their way up, some on their way down (Dylan)

"we" know that TDS is real.....but sadly some people in this great country were not afforded the gift of common sense......they do not have the time, energy or brainpower to research and debunk all of the nonsense they read on the internet.....and so when i come across something egregious, well, i have to find the time to shed some natural light onto the dark meanderings of the afflicted.

I read some grumblings on FB the other day about Trump and the Banks scheming against America with their talk of 40 or even 50 year mortgages........you see, it's all part of Trumps evil plan.

First and foremost......nobody is forced to buy a home.....nobody is forced to take ANY mortgage, let alone one for 50 years.......but they should.......home ownership is the gateway to escaping the circle of poverty so many families seemed to be trapped in.

The avg American first time home buyer is now 40 years old.

Assuming you finally leave home and get a place of your own at say 25......that still means you are paying rent for 15 years........at the end of the 15 years you still have zero equity.

Let's say at 25 you scrape together a down payment and buy a home/apt with a 50 year mortgage.

In those same 15 years the rates will probably fluctuate, at some point when the rates are down you may chose to refinance for a better rate.

In those 15 years on the job you may see some pay increases or a bonus, at some point you may decide you can pay more than the monthly ask.....you can always send additional $$ to reduce your principal....and you may decide to refinance for a 30, 20 or even 15 year mortgage.

along the way you are establishing a healthy credit record, and other lenders will offer you better rates because you are NOT considered high risk.

Along the way you are establishing equity ownership....house prices generally increase over time, so the house you bought for 100K may be worth 125 or 130K , and in the event of a family emergency, you can chose to borrow verse the equity.

At the end of the 15 years you have SOMETHING.........you have your original down payment, plus the principal you have paid down, plus the probable increase in value of the home itself.

If you stay in the mortgage for the full 50 year term will you pay a lot more Interest than a traditional 30 year mortgage ? yes of course you will........Banks are businesses after all, not social workers.....but the good news is that nobody is forcing anyone to buy a home and take a mortgage.........side note JPM dipped down to $300......buy the dip

second side note.....Cheetos and Dorritos have decided to stop using artificial flavorings and dyes in their chips.......can't wait to hear the MSM media give Bobby Kennedy the credit for these healthy changes.

2+3= BEER     and 50 year mortgage

The air burns and I’m trying to think straight
And I don’t know how much longer I can wait