Posted by Brian (WA) on December 01, 2005 at 18:36:15:
Yeah, and a 40 yr amortization on their 2nd.
There are other lenders that have 40 & 45 yr amortizations as well.
Another lender even has a 2nd deed of trust as a 3/1 arm interest only. Can’t remember at the moment who it is.
Pretty amazing stuff. To some it might seem strange but take a look at other countries that have 100yr amortizations, I would imagine they look at our terms and think the same thing.