"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,"
"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"
HUD Secretary Scott Turner said the 50-year mortgage proposal remains under consideration. Turner cited a range of ideas including mortgage-product changes, interest-rate considerations, and cutting regulatory red tape at federal and local levels. He noted HUD helped over one million first-time homebuyers this year through FHA and Ginnie Mae programs and encouraged prospective buyers to explore those options. Turner said more research is needed on 50-year mortgages and stayed noncommittal on whether extended-term loans would work. Critics warn a 50-year mortgage could lock younger borrowers into longer interest payments. HUD emphasized maintaining a stable housing market as a priority.
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