US investor James Fishback says Donald Trump’s 50-year mortgage plan spells slavery for Americans.
Former DOGE architect, Azoria CEO James Fishback who has been campaigning strongly against H-1B and immigration, dissed President Donald Trump’s 50-year mortgage plan and called it a disgusting insult to the Americans. Trump has suggested a 50-year mortgage plan instead of the present 30-year plan for homebuyers so that each monthly payment is lower enough to encourage the young population to buy houses. “Thanks to President Trump, we are indeed working on The 50 year Mortgage – a complete game changer,” US director of federal housing Bill Pulte Pulte posted, confirming that 50-year mortgage plan is coming to reality. According to a mortgage calculator, a $300,000 home with a 5% interest rate and a 5% down payment would cost $2,254 per month with a 15-year fixed mortgage, $1,530 per month with a 30-year fixed mortgage and $1,294 per month with a 50-year fixed mortgage. But paying for 50 years is slavery and Americans are not slaves, Fishback said. “The “50-year mortgage” is a disgusting insult. We are Americans. We are not slaves. We are not slaves to the plantation owner. We are not slaves to China. And we are not slaves to Wall Street. This 50-year mortgage idea is a spit in the face. It is an insult. We did not vote for this. We did not vote to become debt slaves to private equity firms, the big banks, and Wall Street,” Fishback said. “I am sick and tired of the do-nothing Republicans and the know-nothing Democrats being in bed with Wall Street, forcing us to become debt slaves, forcing us to accept this unrestrained usury. We did not vote for the 50-year mortgage. If this continues, the Republicans will lose the midterms, and they will deserve to,” the CEO said predicting midterm loss for the GOP.
White House blindsided, facing massive backlash
According to a Politico report, the White House was blindsided by the 50-year mortgage idea and Bill Pulte talked him into announcing this. Pulte arrived at Trump’s Palm Beach Golf Club with a posterboard in his hand. A graphic of former President Franklin Roosevelt appeared below “30-year mortgage” and one of Trump below “50-year mortgage.” The headline was “Great American Presidents.”After just 10 minutes, Trump posted the image to Truth Social, leaving his aides to deal with angry phone calls. Trump had to do a lot of firefighting as the party rejected the idea of paying the mortgage for 50 years. Trump said it is not going to be a big deal and it only means that the per-month payment will go down, leaving more money in the pocket.
