{"id":135,"date":"2006-07-26T07:31:56","date_gmt":"2006-07-26T14:31:56","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=135"},"modified":"2006-07-26T09:58:57","modified_gmt":"2006-07-26T16:58:57","slug":"wells-fargo-to-offer-40-year-mortgages-ninnies-aghast-as-expected","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/135\/wells-fargo-to-offer-40-year-mortgages-ninnies-aghast-as-expected\/","title":{"rendered":"Wells Fargo to offer 40-year mortgages; ninnies aghast as expected"},"content":{"rendered":"

You don’t have to be completely impervious to facts to write for the Arizona Republic<\/i><\/a>, but it helps:<\/p>\n

To counteract slow equity build-up, borrowers might want to couple a 40-year term with a biweekly payment schedule, which results in the equivalent of one extra monthly mortgage payment yearly. A biweekly schedule can cut a 40-year term to about 29 years, Rogers said, allowing for faster equity increases and less interest paid over time.<\/p><\/blockquote>\n

Or you could just move every three to five years, like everyone else.<\/p>\n

Update:<\/i><\/b> Another ninny:<\/a><\/p>\n

But the loan comes with a big asterisk. Non-conforming loans — essentially those for more than $417,000 on single-family homes this year — are amortized over 40 years but must be paid off with a balloon payment at the end of 30 years.<\/p><\/blockquote>\n

Not only are not going to move for 40 years, you’re not even going to refinance for the first 30 years.
\n<\/p>\n

Technorati Tags: arizona<\/a>, arizona real estate<\/a>, phoenix<\/a>, phoenix real estate<\/a>, real estate<\/a>, real estate marketing<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

You don’t have to be completely impervious to facts to write for the Arizona Republic, but it helps: To counteract slow equity build-up, borrowers might want to couple a 40-year term with a biweekly payment schedule, which results in the equivalent of one extra monthly mortgage payment yearly. A biweekly schedule can cut a 40-year […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,5],"tags":[],"class_list":{"0":"post-135","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-general","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":16276,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16276\/there-is-no-real-estate-inventory-problem-in-oceanside-ca\/","url_meta":{"origin":135,"position":0},"title":"There is no real estate inventory problem in Oceanside, CA","author":"Brian Brady","date":"January 11, 2013","format":false,"excerpt":"How often had you heard real estate agents complain about \"the inventory problem\" this past year?\u00a0 I used to think their complaints were farcical until these past 3-4 months.\u00a0 I have about a dozen pre-approved buyers out looking for homes.\u00a0 Interest rates are low and the foreclosures are getting snapped\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4234,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4234\/august-was-a-great-month-for-real-estate-sales-but-when-40-of-buyers-are-pushed-off-the-playing-field-home-prices-could-plummet\/","url_meta":{"origin":135,"position":1},"title":"August was a great month for real estate sales, but when 40% of buyers are pushed off the playing field, home prices could plummet","author":"Greg Swann","date":"September 6, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0August was a great month for real estate sales, but when 40% of buyers are pushed off the playing field, home prices could plummet We won't have reliable numbers for a few days,* but preliminary results leave\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1420,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1420\/can-i-ease-out-of-my-pay-option-loan\/","url_meta":{"origin":135,"position":2},"title":"Can I ease out of my pay-option loan?","author":"Morgan Brown","date":"May 12, 2007","format":false,"excerpt":"Heard this one before? I tell you what, if I had a nickel... skip it, you know what I'm saying. During the last few years home owners, especially in areas with exceptionally low levels of housing affordability, have flocked in droves to the \"dreaded\" pay option mortgage. Now with recasts\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18905,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18905\/i-never-lose\/","url_meta":{"origin":135,"position":3},"title":"I never lose.","author":"Brian Brady","date":"December 20, 2022","format":false,"excerpt":"It's no secret that I am a Tom Brady fan. I admire him because of his commitment to excellence and because he competes hard. His off-field conditioning is maniacal but, at 45 years old, he has taught the next generation of NFL greats that self-care is what leads to longevity\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2489,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2489\/seller-financing-can-give-you-an-edge-over-your-competition-in-the-phoenix-real-estate-market\/","url_meta":{"origin":135,"position":4},"title":"Seller financing can give you an edge over your competition in the Phoenix real estate market","author":"Greg Swann","date":"January 12, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Seller financing can give you an edge over your competition in the Phoenix real estate market If you have significant equity in your home, you have a potent weapon at your disposal on resale. The big news\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18716,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18716\/why-wont-people-move\/","url_meta":{"origin":135,"position":5},"title":"Why won’t people move?","author":"Brian Brady","date":"June 8, 2022","format":false,"excerpt":"The housing market is \"stuck\". Higher mortgage rates and the fear of higher property taxes cause Boomers and Millennials to \"hunker down\" rather than move to new homes. Reverse mortgages might offer a solution to this problem. Today,\u00a0 2 out of 3 Baby Boomers are rejecting retirement communities and \"aging\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=135"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/135\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}