Friday, January 12, 2007

50 year mortgages in IL?

I saw my first local Chicago area real estate contract today where the Buyer is using a 50 year mortgage. I knew of the 50 year loans but didn't realize they'd made there way to IL yet. I'll keep my fingers crossed that the deal gets closed and then I'll know the lender.

2 Comments:

At 6:49 AM, Blogger Brian Nygard said...

I thought I read somewhere about the 100 year mortgage (over seas) where families will pass it down from generation to generation.

Brian Nygard

 
At 9:24 AM, Blogger Peter said...

I haven't seen the 100 year. I thought the 50s were just in a couple states like California.

 

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