In a surprising turn of events, Donald Trump’s housing advisor has stirred up concern within the White House by persuading the president to support a controversial 50-year mortgage plan. This development came after an unexpected presentation at Trump’s Palm Beach golf club, leaving many officials scrambling.

Bill Pulte, the advisor in question, made a dramatic entrance at the Trump International Golf Club. He carried a display reminiscent of a school project, which he titled ‘Great American Presidents.’ The centerpiece was particularly eye-catching, featuring a photo of Franklin D. Roosevelt with the words ’30-year mortgage’ next to it. Below, a picture of Donald Trump was emblazoned with the phrase ’50-year mortgage.’

The impromptu presentation apparently made quite an impression. Within about ten minutes, Trump had posted a photo of the display on Truth Social. This move unleashed a torrent of criticism, as supporters and housing experts flooded aides with calls. They expressed fears that such a plan could exacerbate the already high costs in the housing market.

One source, who was present with the president, confided to Politico, “He just sold POTUS a bill of goods that wasn’t necessarily accurate.” This comment underscores the skepticism and concern surrounding the potential implications of the proposed mortgage plan.

‘He just sold POTUS a bill of goods that wasn’t necessarily accurate,’ a person who was with the president told Politico. 

‘He said ‘FDR did it, you can do it, it’s gonna be a big thing.’ But he didn’t tell him about all the unintended consequences.’ 

Economists slammed the idea as a ‘band-aid solution’ that would only make homes less affordable over time. Critics inside the administration said the backlash to the scheme was among the fiercest of Trump’s second term.

One ferocious insider said: ‘The thing that became clear from this latest episode – if it wasn’t already clear – is that Bill Pulte doesn’t know the first f***ing thing about how the mortgage markets operate. After publicly humiliating the president with his moronic 50 year mortgage plan it’s safe to assume that his days are numbered.’ 

President Donald Trump speaks as Sen. Tim Scott, R-S.C., in foreground left, and from background left, Bill Pulte, director of the Federal Housing Finance Agency, White House staff secretary Will Scharf, Russell Vought, director of the Office of Management and Budget, White House Deputy Chief of Staff James Blair and Mark Paoletta, general counsel with the Office of Management and Budget, listen as Trump visits the Federal Reserve, Thursday, July 24

Pulte arrived with a school project-type poster board with the headline ‘Great American Presidents’ up top, Politico reported. The main centerpiece of the board featured a photo of former President Franklin Roosevelt and the words ’30-year-mortgage.’ There was also a photo of Trump, with ’50-year-mortgage’ etched underneath

A 50-year mortgage might sound like a fix for housing ‘affordability’ by shrinking monthly payments.

But stretching loans that long means homeowners build equity at a glacial pace, with the majority of each payment going toward interest rather than the property itself.

Instead of easing the crisis, it would saddle buyers with lifelong debt and flood an overheated market with more demand, pushing prices even higher. 

‘It would lead to buyers building equity in their homes more slowly,’ said Gennadiy Goldberg, head of US rates strategy at TD Securities.

‘At the beginning of a mortgage, more of those payments tend to be interest.’

One person who witnessed Pulte’s presentation said: ‘Anything that goes before POTUS needs to be vetted. And a lot of times with Pulte they’re not. He just goes straight up to POTUS.’

Trump downplayed the controversy in a Fox News interview with Laura Ingraham on Monday, insisting the concept was ‘not a big deal.’

‘All it means is you pay less per month,’ he said. ‘Pay it over a longer period of time. It’s not like a big factor. It might help a little bit.’

Bill Pulte, the director of the Federal Housing Finance Agency, testifies during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill back in late February

Trump plays golf at Trump International Golf Club West Palm Beach in Florida on March 29, 2023

Prominent conservatives, including Rep. Marjorie Taylor Greene, influencer Laura Loomer, and Mike Cernovich, ripped the proposal online.

‘It will ultimately reward the banks, mortgage lenders, and home builders while people pay far more in interest over time and die before they ever pay off their home,’ Greene wrote on X. ‘In debt forever, in debt for life!’

Loomer added: ‘You know what’s better than a 50-year mortgage? Mass deporting 65 million illegal aliens.’

Pulte later defended his plan, saying the extended mortgage term was just one piece of the Trump administration’s broader push to expand homeownership opportunities.

The White House issued a statement saying Trump remains ‘committed to making it easier and more affordable to achieve the American Dream of homeownership by eliminating unnecessary red tape, increasing supply, and lowering costs.’