In today’s episode of Know Before You Owe, I break down the shiny new distraction everyone’s talking about: 50-year mortgages. Yes, they lower your payment a little. No, they don’t help you build wealth. And yes, they quietly drain an extra $550,000 in interest if you keep them long term.
I compare a 30-year loan vs a 50-year loan using real numbers and explain how compounded interest turns a so-called “affordable payment” into a long-term money trap. I also share smarter mortgage strategies you can actually use, because homeownership should build your finances, not hollow them out.
I’m Jim Black, and I’m here to make sure you know before you owe.
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