Why 40-Year Mortgage is a double-edged sword

Why 40-Year Mortgage is a double-edged sword!

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To understand a 40-Year Mortgage it's important to look at its positive as well as negative aspects!

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Advantages of 40-Year Mortgage

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#1 You will deal with low monthly mortgage payments in the interest period.

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#2 Provides ample amount of time to get rid of it.

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#3 Interest rates ally usually don't fluctuate till the loan repayment.

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Disadvantages of 40-Year Mortgage

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#1 Interest rates/amounts will be much higher compared to short-term loans.

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#2 Need to compromise on equity-building as it's interest-heavy.

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#3 Refinancing becomes almost impossible.

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How US housing market crash can be a blessing in disguise?

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