I think homeowners should have the opportunity to extend the amortization after the first 3- or 5-year term. Whether due to a higher interest rate landscape or circumstances more personal, financial realities can change for homeowners, and it would be ideal to keep people in their homes if it's just a matter of extending the mortgage by an extra term.
Great article Deny!
Deny,
Who knew a longer amortization was a bad think for new home buyers?
Capped property taxes needs to be explained more in laymen's terms and what are the side effects down the road?
I think homeowners should have the opportunity to extend the amortization after the first 3- or 5-year term. Whether due to a higher interest rate landscape or circumstances more personal, financial realities can change for homeowners, and it would be ideal to keep people in their homes if it's just a matter of extending the mortgage by an extra term.