Balgarianovinite.com
A White House Cabinet official told Fox News, on Sunday, that President Donald Trump’s widely-criticized 50-year mortgage plan is still under consideration.
In an interview on Fox & Friends Weekend, HUD Secretary Scott Turner was quizzed about the prospect of 50-year mortgages by host Griff Jenkins — who pressed Turner for policy specifics on how the administration plans to make housing more affordable.
“I think a lot of the American people are wondering will there be 50-year mortgages, longer mortgage products available?” Jenkins asked. “Will there be this push to perhaps ease zoning restrictions? Share with us some details that the American people are so hungry for of ideas you may present the president with.”
Turner’s response was vague.
“There’s a myriad of ideas that have been discussed, from mortgage, obviously, from interest rates, to cutting red tape,” Turner said. “I know at HUD, this year alone, we have helped over one million first-time home buyers through our FHA and Ginnie Mae programs at HUD. And so that’s some good news that the American people can celebrate. And also, to be encouraged to look at FHA, and look at Ginnie Mae if you’re a first- time home buyer, cutting red tape, taking down burdensome regulations, not only from a federal standpoint, but also from a local standpoint.”
Jenkins pressed Turner on the 50-year mortgage plan.
“I’m going to ask you again about that 50-year mortgage — that’s a really out-of-the-box idea,” Jenkins said. “The immediate criticism was it would lock younger people into longer interest payments. Do you believe like something like a 50-year mortgage could actually work for for people.”
Turner was non-committal, but made clear it’s still an option.
“You know, I think it’s yet to be seen,” Turner said. “It’s very early. I think more research needs to be done on a 50-year mortgage and the other ideas that have been put forth. Because — one thing from a HUD standpoint, from my standpoint, we want to make sure that the housing market is secure. And also for any FHA, Ginnie Mae taxpayer-backed mortgages are stable and secure for the American people. And so the 50-year mortgage and other ideas that have been circulated through the public are being discussed, are on the table. But at the end of the day, the president and the other leaders in the administration will discuss what’s the best possible path, secure path, to help the American people to afford a home.”
The proposal drew a ton of criticism from observers of all political stripes when it was first floated by the president in early November. Fox Business host Charles Payne — citing an example of a $400,000 house — noted that buyers would pay roughly twice as much interest over the life of the loan on a 50-year mortgage as compared to a 30-year.
“By the time you finish paying this bad boy off, the 30-year, you pay $359,000, versus a 50-year, almost $700,000,” Payne said. He added, “it’s just a gargantuan difference just to make people feel better, and that’s not the way to do this.”
Shortly after the idea was made public, Politico reported there was an internal firestorm in the West Wing — with unnamed officials raging at Federal Housing Finance Agency director Bill Pulte , who first pitched Trump on the idea. But nonetheless, Turner made clear on Sunday that it is still a possibility.
Watch above, via Fox News.
The post Top Trump Housing Official Tells Fox News 50-Year Mortgage Scheme is Still ‘On the Table’ first appeared on Mediaite.
Top Trump Housing Official Tells Fox News 50-Year Mortgage Scheme is Still ‘On the Table’ 2025 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2025-12-28 17:35:27 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law