Rising Seas Threaten an American Institution: The 30-Year Mortgage – The New York Times
Credit: Steve Helber/Associated Press.
Article Synopsis – Increasingly homeowners and banks are forgoing the traditional mortgage for interest-only mortgages and government-backed lenders in order to lessen the risk of coastal real estate. As rising seas and extreme weather threaten the long-term livability of some property, long-term mortgages are becoming less desirable. To read the actual article click here.