But, for those in the SF Bay Area who want to buy into a pricey property and don't intend to hold onto the mortgage the whole life of the loan, it might work. See the entire story on my latest Must Like Fog letter ...https://t.co/qBOoWl1CWc
Could 50-year mortgages work for you? A new analysis shows that stretching payments over five decades lowers monthly costs by a few hundred bucks, but the longer payoff can actually double the price of the home.
The bottom line, according to a #LendingTree report: “a 50-year mortgage may sound like relief, but it could trap borrowers in half a century of debt and delay wealth-building for an entire generation.”
San Franciscans (or those missing it): check out my newsletter, Must Like Fog. This week features a $12.5 million swinging townhouse from 1960, where to leaf peep right in the Bay Area, and a Gen Xer's memories of a fog-filled, San Francisco childhood. https://t.co/lQEKJluz8y
Check out a South Bay property that's hit the market as Atherton's most expensive listing in this week's Must Like Fog newsletter https://t.co/iBDwTWisLX
My latest letter looks at the lore of a home in Haight-Ashbury: What's up with the Jimi Hendrix Red House, rent is too damn high, and an estate with a petrified forest in Sonoma https://t.co/z1UnztgQX5
I've launched a newsletter on the SF Bay Area, Must Like Fog. Ever wonder where you can afford to buy a home? Plus, a cool eco-lodge and an update on an NBA legend. Read on for more! https://t.co/F0Z2xh38db