Posted on 11/10/2025 1:11:48 PM PST by DFG
FRANKLIN, TN — Financial consultant and radio host Dave Ramsey was reported to be in critical condition Monday after learning that President Donald Trump had begun pushing a 50-year home mortgage.
According to sources, Ramsey collapsed at his desk after reading a Truth Social post from Trump in which he pushed the concept of a 50-year home mortgage to combat the growing housing crisis.
"It was a sudden shock he wasn't able to handle," one person close to Ramsey's family said. "Just the word 'mortgage' is usually enough to cause adverse effects on Dave. The president pushing for a 50-year mortgage, however, was just more than he could bear."
Ramsey was rushed to the hospital after suffering what was suspected to have been a major cardiac event from seeing such terrible economic policy. After regaining consciousness, he condemned the president for not following his envelope method.
"You can't spend money you don't have, even if it's stretched out over 50 years. Sure, you'll be able to afford the monthly payment, but you'll never be out of debt. Ever!" Ramsey said from his hospital bed. Nurses later gave him a sedative and asked reporters to leave him alone.
Ramsey's wife asked for prayers for her husband and for Trump, that the Lord work on his heart and change his economic policy. "I love the president, but he's clearly trying to kill my husband," Sharon Ramsey said. "I told Dave to stay off Truth Social, but he didn't listen."
At publishing time, Dave Ramsey had been discharged from the hospital and was able to pay his bill in full with an envelope full of cash.
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
LOL!
Not THAT Mr. Ed. But thanks for being generous!
I look like 18 year old Brad Pitt
50 year mortgage, ah noooooooooo! But, let’s see if hannity, kuhner, howie carr (Trump suck ups) agree with this, I’m sure they will.
How’s Jennifer Aniston doing?
I like to eat pine trees. Many parts are edible.
Except for the property taxes and homeowners insurance that keep skyrocketing every year.
It is a ridiculously bad idea
Right up there with the $2000 tariff rebates. Another ridiculously stupid idea.
But you can get your government handouts in TWO flavors now!
The red flavor handout AND the classic blue flavor handout!
Agreed. Self-discipline is required. Including if you use the option of investing the extra instead of paying extra on principal. That's what my wife and our grown kids and their spouses do.
The catch, though, is that when you near retirement and want to decide if you have enough in investments to retire, you have to remember the mortgage debt. You have to be able to pay off the debt in a jiffy if needed. Why? Because Proverb 22:7 is right (all of the Bible is right) when it says the borrower is slave to the lender. That means you either ought to pay off the mortgage before retiring. Or, if you want to keep that money invested especially if you refinanced with a 3% fixed interest rate a few years ago, you have to be willing to, if needed one day, withdraw that amount from investments to pay off mortgage in a couple of days if needed. If there's ever a dispute or ugly relationship between you and the bank, you don't want to be their slave. So if you think you need $1.5 million invested to retire, and you have a $150K mortgage, then you need $1.65 million to retire. That way you financially part ways with the $150K to pay off the mortgage tomorrow if needed.
Later, when you do your regular retirement withdrawals from investments, subtract the mortgage balance. For example, if implementing the standard 4% annual withdrawal, and you have $1.65 million invested and $140K mortgage, pretend you have $1.51 million invested ($1.65 million - $140K = $1.51 million) and withdraw $60,400 (4% of $1.51 million). That way you're not living on the money that would be needed to pay off the mortgage in an instant, if that has to happen one day.
The interest you pay. Your goal should be to make one principle payment per year. Example. If your monthly payment is $2,000 per month, your goal should be to pay an extra $2,000 just towards principle which is roughly $166 per month. You can turn your 30 year mortgage into a 15-17 year one taking that approach.
I’m right here. Why not just ask me?
Good sum up.
Sorry about that. Plastic surgery has really improved over the years LOL.
I have always taken that extra money and put it into the stock market. Back in the day I would deduct the interest but now the standard deduction is higher than all my items.
50 year mortgage = a 50 year lease from the bank that will “save” you about $400 a month.
On a 30 year 200,000 mortgage at 6% : pmt about $1,250 , total payments about 450,000 total.
50 year on 200,000 @ 6% is about 1,050 a month.
Total pmt about 630,000 total patients.
So a pmt of $150 a month is supposed to make a home affordable.
He’ll your property tax increases will easy be $200 to 300 more a month over a 50 year time span.
I’m not a financial advisor, but anyone can use a loan amortization Web app and see how bad a 50 year mortgage is.
How is the Buddhism thingy going? Will you ever have children?
Dave, has that been you all along?!?
No, it’s actually 67% worse.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.