It sounds like a good idea, but the longer amortizations allow people to get into a home, keep that payment lower when they first move in, and then as they move along, they can increase their payments and pay it off faster. Just because it's a 30-year amortization doesn't mean it takes 30 years to pay that mortgage off. As soon as a client adjusts to biweekly accelerated, it knocks almost four years off of that right away.
It's a simple mechanism. It allows somebody to get into that house faster. To take away that mechanism doesn't make sense because it allows somebody to do that in a very simple way, and in the long run, it doesn't hurt anybody. They end up paying it off faster. Like I said, the majority of my clients never take that long to pay it off, and we encourage them to look for ways to pay extra payments on the mortgage and get it paid down sooner.