Mandatory mortgage modification major malfunction

**Mom2-3** · 12-09-2009, 05:43 PM

Not sure about your deal. lol I think I'll stick with what we have.

**littleplum** · 12-11-2009, 05:25 PM

Originally Posted by Mom2-3

40 years?! Where do i sign up?

Two guesses.

**littleplum** · 12-11-2009, 05:32 PM

Originally Posted by Palooka

The highest I've heard was six years. 72 months.

I saw one for 84 months on a Nissan commercial last week.

Toyota started offering 96 month loans about 2 years ago. I wonder how well those are going?

How long until they offer 15 year auto loans? Of course, I hear that most people carry a car note all their working lives.

I never had a car payment until about 4 years ago, and if I had it to do all over again, I would not have bought this car, even though I really like it and it's been a good car for me. It was just too expensive for what my financial situation was back then. I just felt pushed into a corner.

**littleplum** · 12-11-2009, 05:39 PM

Originally Posted by NikoSan999

Imagine the total interest on those

On a typical 40 vs 30 year mortgage, you "save" about 10% in the monthly payment (about $100 on a $200,000 loan), but you wind up paying about 50% more in total interest. I'd rather cut the cable, right?

California now has 50 year mortgages.

**Palooka** · 12-12-2009, 12:37 AM

Originally Posted by littleplum

I saw one for 84 months on a Nissan commercial last week.

Toyota started offering 96 month loans about 2 years ago. I wonder how well those are going?

How long until they offer 15 year auto loans? Of course, I hear that most people carry a car note all their working lives.

Wow, I have a feeling they are probably doing well.

Most people I know do have a car loan. It seems like once it gets paid off, it's old to them. Or they trade it in before it's paid off and are really upside down. They are paying for the difference of the old loan plus the new. gah.

**littleplum** · 12-14-2009, 02:41 PM

Originally Posted by Palooka

Wow, I have a feeling they are probably doing well.

Most people I know do have a car loan. It seems like once it gets paid off, it's old to them. Or they trade it in before it's paid off and are really upside down. They are paying for the difference of the old loan plus the new. gah.

Oh, you've met my mother?

**YankeeMom** · 12-14-2009, 02:59 PM

Originally Posted by littleplum

Oh, you've met my mother?

And mine...she's traded hers in for one reason or another three times in the last 4 yrs. Yet she swears she isn't upside down. I don't think it's possible....

**NikoSan999** · 12-14-2009, 04:38 PM

Originally Posted by littleplum

On a typical 40 vs 30 year mortgage, you "save" about 10% in the monthly payment (about $100 on a $200,000 loan), but you wind up paying about 50% more in total interest. I'd rather cut the cable, right?

California now has 50 year mortgages.

Well, if you take the mortgage out when you're 17 you'll have it paid off by the time you retire
Is this not ridiculous or what