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The only bigger scam than a mortgage is credit cards; I've got my house paid off, and unless I have cash for another house, I won't buy it. I absolutely will never take out another mortagage again. All you're doing is paying a ridiculous interest rate to the bank. They may tell you it's 4.5% interest, but what they DON'T tell you is that it's ammortized so that all of the interest is charged in the first years of the loan. You don't even START to pay off the principal on a 30-year mortgage until you're 15 years into it, and most people move every 7 years. WHAT A SCAM!
13 years ago. Rating: 0 | |
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