Climate change is affecting the viability of the classic 30-year mortgage, a keystone of the American housing market. Borrowers and lenders are changing their calculus when it comes to mortgages, according to New York Times. Both sides are looking for more flexibility and certainty in the face of the unknown. Borrowers are increasingly using mortgages that give them an out in the event of a flood or other event related to climate change that reduces
source https://therealdeal.com/2020/06/19/climate-change-is-shifting-terms-on-30-year-mortgages/
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