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Message
1
Posted on 11/12/25 at 5:33 pm to Kjnstkmn
I was told no one ever wants to keep their mortgage? 
Posted on 11/12/25 at 5:34 pm to Taxing Authority
Are you going to complain about this also?
Posted on 11/12/25 at 5:39 pm to Kjnstkmn
This is a better idea than the 50 year mortgage
Posted on 11/12/25 at 5:40 pm to deltaland
quote:
This is a better idea than the 50 year mortgage
so is getting closer to make sure the fuse on the m-80 didn't fizzle out
doesn't make it a good one
Posted on 11/12/25 at 5:41 pm to Kjnstkmn
I’d rather be able to walk with the existing mortgage if it’s paid through 15 years on a 30 for example to another property but this is a step in the right direction.
Posted on 11/12/25 at 5:44 pm to SDVTiger
quote:No need. The cheap gimmick speaks for itself.
Are you going to complain about this also?
Posted on 11/12/25 at 5:50 pm to Powerman
We dont agree often but this is exactly the point:
There is no way for this to work without government subsidy, and it would be such a shitshow to handle that they would have to hire hundreds of people to manage the program
If Trump wants to make mortgages more affordable, lower the rates instead of selectively subsidizing rates
quote:
Seems like you would need to have 2 mortgages. 1 old and 1 new
quote:
The second bank is going to get less action on the loan so who knows how this could work.
There is no way for this to work without government subsidy, and it would be such a shitshow to handle that they would have to hire hundreds of people to manage the program
If Trump wants to make mortgages more affordable, lower the rates instead of selectively subsidizing rates
Posted on 11/12/25 at 6:11 pm to Kjnstkmn
If Trump can pull this off I can forget about the H1B visa crap pretty quick.
Posted on 11/12/25 at 6:12 pm to Kjnstkmn
quote:
Basic rundown: "Instead of taking out a completely new mortgage, you use the money raised from the sale of your property to pay off your existing mortgage and take out a new mortgage on the same terms with your existing provider to cover the cost of buying your new home."
I’m not saying this would be impossible, but it would be damn near impossible. It would require derivatives or other instruments to offset rate changes from the original mortgage to the prevailing market rates. And it would require buyers of the mortgages to agree to all of this.
And what if rates drop? Would buyers just forego the portable mortgage for a new one altogether?
All upside for buyers and all downside to lenders. If it sounds too good to be true…
Posted on 11/12/25 at 6:14 pm to Sassafrasology
quote:
So if the 30 year bond is trading @ 4% and you have an existing mortgage at 3% and you want to carry your existing 3% onto a new home why would a bank lend to you at 3% when they can get 4% onto the bond market?
29 years into a 30 year bond, how much money have you made?
29 years into a 30 year mortgage, how much money have you made?
Posted on 11/12/25 at 6:28 pm to Free888
Posted on 11/12/25 at 6:30 pm to Sassafrasology
Nah, he can do this and eliminate the H1B Visas also. H1B is not American First or MAGA we need to hold him to that agenda.
Posted on 11/12/25 at 6:31 pm to Azkiger
First off why would you have to change banks? Do they not want your business anymore. They made the loan at the prior rate uncertain of the future of the bond market. Just like most everything else, managing money comes with uncertainty about future market moves. This only has a negative effect on them if the interest rate goes up. If it goes down, everyone who plans on staying at their current residence will refi.
Posted on 11/12/25 at 6:46 pm to Kjnstkmn
They could make money loaning additional money once people moved to new locations on top of the current portable mortgage at the new rate (if buyer has a better than current rate). You should also be able to ruse equity to pay fees and as a cash down payment on a cheaper property.
Also would need to know the timing rules and if it’s a taxable event. Another thing to consider on the banks behalf are closing costs and fees. They would generate additional revenue there.
The banks will never go for this.
Also would need to know the timing rules and if it’s a taxable event. Another thing to consider on the banks behalf are closing costs and fees. They would generate additional revenue there.
The banks will never go for this.
This post was edited on 11/12/25 at 6:47 pm
Posted on 11/12/25 at 6:47 pm to AURulz1
Posted on 11/12/25 at 7:18 pm to Kjnstkmn
Why would a bank do this? You get to keep your rate/mortgage balance if rates are higher, but apply for a new loan and pay off the old one if rates are lower?
Rates will be artificially inflated from now on because the lender carries all the risk - and/or say goodbye to fixed rate loans.
Rates will be artificially inflated from now on because the lender carries all the risk - and/or say goodbye to fixed rate loans.
Posted on 11/12/25 at 7:22 pm to Pvt Hudson
The banks will be new state credit unions. They will do it because it will be a new source of income to replace property and income taxes.
Private banks may balk, but they will soon find these themselves without customers as everyone flocks to the new state credit unions with lower rates.
The world is changing.
Not a fan of government in general, but this seems like a welcome trade-off to eliminate property and income taxes and have the local governments funded by interest I’m already paying on my consumer loans and mortgage.
The right question is with this setup how do we make sure there is still free market competition in the banking industry so we don’t give government credit unions a monopoly- they will need to be held in check to prevent abuse.
Maybe outlaw other banking services (checking / savings) from being offered by the new state credit unions so the private banks remain viable, albeit on a smaller scale.
Private banks may balk, but they will soon find these themselves without customers as everyone flocks to the new state credit unions with lower rates.
The world is changing.
Not a fan of government in general, but this seems like a welcome trade-off to eliminate property and income taxes and have the local governments funded by interest I’m already paying on my consumer loans and mortgage.
The right question is with this setup how do we make sure there is still free market competition in the banking industry so we don’t give government credit unions a monopoly- they will need to be held in check to prevent abuse.
Maybe outlaw other banking services (checking / savings) from being offered by the new state credit unions so the private banks remain viable, albeit on a smaller scale.
This post was edited on 11/12/25 at 7:28 pm
Posted on 11/12/25 at 7:47 pm to AURulz1
quote:
First off why would you have to change banks?
I.... never said you had too?
Posted on 11/12/25 at 7:51 pm to Kjnstkmn
quote:
Governors Abbott and DeSantis have been talking the elimination of property taxes already.
No more paying interest to any private central banks. No federal income taxes. Tariffs, external revenue service.
This is the way.
Care to answer how governors of Texas and Florida intend to do away with federal income taxes?
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