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A federal magistrate judge says “government misconduct” may have tainted the criminal case against former FBI Director James Comey, describing a cascade of apparent errors by lead prosecutor Lindsey Halligan.

The magistrate judge, William Fitzpatrick, ordered prosecutors Monday to quickly turn over records of secret grand jury proceedings to defense attorneys as they seek to dismiss the false-statement and obstruction-of-Congress charges pending against Comey in federal court in Alexandria, Virginia.
 
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https://twitter.com/x/status/1990484929533419536

The White House: Thanks to President Trump’s deal-making, we’re making trade fair again, & winning BIG. Coffee, tea, cocoa, spices, bananas, oranges, tomatoes, beef, fertilizers, & more are now exempt from reciprocal tariffs. America First policies delivering for American workers & families





Thank goodness Trump was able to reverse the policies of the moron who put them in place. Winning bigly!
 
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Huckleberry said:
https://twitter.com/x/status/1990484929533419536

The White House: Thanks to President Trump’s deal-making, we’re making trade fair again, & winning BIG. Coffee, tea, cocoa, spices, bananas, oranges, tomatoes, beef, fertilizers, & more are now exempt from reciprocal tariffs. America First policies delivering for American workers & families





Thank goodness Trump was able to reverse the policies of the moron who put them in place. Winning bigly!
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sadly, this will work for lots of people
 
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75thru79 said:
I don't know if I would be that harsh. Most people never pay off their mortgage because they move every 10 years or so and start over all again on the 30-year train when they get the new mortgage on the new house. We can argue all day as to whether or not a 50 year mortgage is a bad decision for a prospective buyer. If you know that this is a starter home and you hope to move up in a decade then having the 50 year mortgage will lower your payments and maybe help you qualify for the loan. Once you own the house then all the appreciation will be yours and not the banks (or landlord for that matter).

I don't think I would get a 50 year mortgage but it might be the best decision for some. In any case, it is not a panacea and will not make housing more affordable. Mortgages aren't the problem. it is inflated real estate prices and the only way to bring prices down is get more houses on the market.
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The availability of a 50yr mortgage will make housing even more expensive even for the homebuyers who dont want or need a 50yr mortgage. Expanding the access to credit does nothing but make things more expensive. Hence, the majority of us are financing our cell phone purchases.

It is a terrible idea. If anything we need to eliminate the 30yr mortgage. You can't get a 30yr mortgage in Canada.
 
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JDCrimson said:
The availability of a 50yr mortgage will make housing even more expensive even for the homebuyers who dont want or need a 50yr mortgage. Expanding the access to credit does nothing but make things more expensive. Hence, the majority of us are financing our cell phone purchases.

It is a terrible idea. If anything we need to eliminate the 30yr mortgage. You can't get a 30yr mortgage in Canada.
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I did not know that.

Heck there are people financing the Grub Hub purchases.
 
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Tidewater said:
I did not know that.

Heck there are people financing the Grub Hub purchases.
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Yes, people are using Buy Now Pay Later merchants like Affirm and Klarna to purchase food...

Also, Bill Pulte is advocating for a 50yr mortgage as a Trump appointee. Fox guarding the hen house...
 
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92tide said:
sadly, this will work for lots of people
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How would you like to know that you have been duped by an international economic scam?

Raise prices for everything through the implementation of illegal tariffs during the first year of your presidency, only to systematically roll said tariffs back such that prices decrease right before the midterm elections so that you and your party can talk about how you lowered prices and blame it on Biden too boot. Meanwhile the Democrat leadership will clutch pearls about what to say in response to the fraudulent machinations. Oh, and before the Supreme Court rules them illegal requiring substantial refunds. All the while you have collected money under the table for preferential treatment in the application of the tariffs.

Would believe me if I told you this is all a giant bait and switch drifting campaign? Every last bit of it...

Trump and his sycophants think we are whole nation of suckers. Sadly, half of us are. We are not nation where a sicker is born every day, but we are a nation where a sucker is born every other day...
 
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Trump: "No matter who you are, everybody loves something at McDonald's. I like the fish. Khhhhh. I like it. You could do a little bit more tartar sauce though please. Seriously."

https://twitter.com/x/status/1990571841438527682

He isn't wrong about the Filet-O-Fish. This is a lenten season staple for Catholics. It is shockingly tasty, but they do tend to get chintzy with the tarter sauce. I would blame tariffs, but it has been this way for years.

EDIT: Sorry for the lack of embedding. The site keeps changing "X" to "twitter" in the link.
 
CrimsonJazz said:
Trump: "No matter who you are, everybody loves something at McDonald's. I like the fish. Khhhhh. I like it. You could do a little bit more tartar sauce though please. Seriously."

https://twitter.com/x/status/1990571841438527682

He isn't wrong about the Filet-O-Fish. This is a lenten season staple for Catholics. It is shockingly tasty, but they do tend to get chintzy with the tarter sauce. I would blame tariffs, but it has been this way for years.

EDIT: Sorry for the lack of embedding. The site keeps changing "X" to "twitter" in the link.
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Not everybody likes McDonald's. Personally cannot stand it. I have not been in over a decade. That fish sandwich is straight up nasty. I hate all things mayo. so starter sauce is disgusting to me.
 
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I admit that I am not a banker and do not understand banking, but why would any bank give out a 50-year mortgage to anyone north of 30? They will most likely die long before it matures.

I get that most people never pay off their mortgage because they keep moving or refinancing. It just doesn't seem smart from the bank's side. Since you are mostly paying interest at the beginning of a mortgage, wouldn't banks make more money on a 30-year mortgage early in the cycle than on a 50-year mortgage? Just doesn't make business sense to me, but like I said, I don't know anything about banking.
 
DzynKingRTR said:
No everybody likes McDonald's. Personally cannot stand it. I have not been in over a decade. That fish sandwich is straight up nasty. I hate all things mayo. so starter sauce is disgusting to me.
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I'll be frank, McDonald's has been practically worthless to me for a very, very long time. Once I started observing lenten practices, it kind of put me in a pickle because I had tried fish sandwiches from other fast food joints, but none of them appealed to me. A friend from church advised I give the McDonalds version a try, so I did. Problem solved. The only time McDonalds can get money from me is between Ash Wednesday and Easter. (The coffee ain't bad, tho.)
 
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CrimsonNagus said:
I admit that I am not a banker and do not understand banking, but why would any bank give out a 50-year mortgage to anyone north of 30? They will most likely die long before it matures.

I get that most people never pay off their mortgage because they keep moving or refinancing. It just doesn't seem smart from the bank's side. Since you are mostly paying interest at the beginning of a mortgage, wouldn't banks make more money on a 30-year mortgage early in the cycle than on a 50-year mortgage? Just doesn't make business sense to me, but like I said, I don't know anything about banking.
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I went to this online mortgage calculator.
$200,000 house (for simplicity).
6.5% interest rate.
Financing for 30 years total payments are $456,000 (200,000 in principle and $256k in interest).
Financing for 50 years total payments are $676,000 (200,000 in principle and $476k in interest).
I think there's your answer: $220,000 additional interest payments over 20 years.

For the borrower, the mortgage payment is $1,264 vs $1,127, so adding 20 years to the term of the loan saves you ~$130/month.
 
CrimsonNagus said:
I admit that I am not a banker and do not understand banking, but why would any bank give out a 50-year mortgage to anyone north of 30? They will most likely die long before it matures.

I get that most people never pay off their mortgage because they keep moving or refinancing. It just doesn't seem smart from the bank's side. Since you are mostly paying interest at the beginning of a mortgage, wouldn't banks make more money on a 30-year mortgage early in the cycle than on a 50-year mortgage? Just doesn't make business sense to me, but like I said, I don't know anything about banking.
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Wy would you think that the term of the mortgage has anything to do with the banks making more money? The term is basically meaningless, to the bank as a whole, when it comes to interest earned. Yes, if you have a 50 year mortgage then the bank makes more interest off you over the life of the loan because, duh, you are paying interest for 50 years instead of 30 years. The term is meaningless to the bank because they will just lend your money back out to someone else once the loan is repaid so they are going to make the same thing over the 50 year period whether or not it is one 50 year loan or a combination of a 30 year load and then a 20 year loan after that. The bottom line is the bank doesn't really care and will make the same thing whether their loan portfolio is a bunch of 50 year loans versus a mix of 30 and 30 year mortgages.

To those who want to point out that a 50 year mortgage will carry a higher interest rate, you are correct. However, that extra rate is to compensate for the bad debt losses that will likely be higher on a 50 year loan so the impact on the bottom line of a bank should be same for both types of loans.
 
75thru79 said:
Wy would you think that the term of the mortgage has anything to do with the banks making more money? The term is basically meaningless, to the bank as a whole, when it comes to interest earned. Yes, if you have a 50 year mortgage then the bank makes more interest off you over the life of the loan because, duh, you are paying interest for 50 years instead of 30 years. The term is meaningless to the bank because they will just lend your money back out to someone else once the loan is repaid so they are going to make the same thing over the 50 year period whether or not it is one 50 year loan or a combination of a 30 year load and then a 20 year loan after that. The bottom line is the bank doesn't really care and will make the same thing whether their loan portfolio is a bunch of 50 year loans versus a mix of 30 and 30 year mortgages.

To those who want to point out that a 50 year mortgage will carry a higher interest rate, you are correct. However, that extra rate is to compensate for the bad debt losses that will likely be higher on a 50 year loan so the impact on the bottom line of a bank should be same for both types of loans.
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The average life of a 30y mortgage is 7-10 years depending on macroeconomic factors but heavily influenced by people moving and dying refinancing. In the industry this called prepayment risk. Virtually no loan is on the books for the 30y term.

A 50y mortgage would have a similar life but be significantly more profitable to bank due the slower amortization of principal.
 
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JDCrimson said:
The average life of a 30y mortgage is 7-10 years depending on macroeconomic factors but heavily influenced by people moving and dying refinancing. In the industry this called prepayment risk. Virtually no loan is on the books for the 30y term.

A 50y mortgage would have a similar life but be significantly more profitable to bank due the slower amortization of principal.
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Dude, I know you're speaking English because I understood the word "bank".
 
JDCrimson said:
The average life of a 30y mortgage is 7-10 years depending on macroeconomic factors but heavily influenced by people moving and dying refinancing. In the industry this called prepayment risk. Virtually no loan is on the books for the 30y term.

A 50y mortgage would have a similar life but be significantly more profitable to bank due the slower amortization of principal.
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No, actually it would not. Just for background I am a CPA and I worked at a large regional bank for 20 years. Yes, on that one particular loan the bank would make more interest but on an overall portfolio look they would not.

1) Bank loans 100k to customer for 50 years
2) Bank loans 100k to different customer for 30 years

Which one makes more money? One, of course, when just looking at that one loan because it goes on for 50 years. What happens when the second borrower pay off his loan after the 30 years? The bank will just lend it to someone else, let's say for 20 years. So, the bank has 100k earning 5% for 50 years and the bank has 100k earning 5% for 30 years and when that loan matures they lend it out again. So, both investments of 100k earn interest for 50 years. Profitability for the bank is the same.
 
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