With a mortgage you don’t even own the house until 30 years later after you make all the principal and interest payments which means you end up paying double the original purchase price. There must be a better way than being a prisoner of the bank?
In 2007, I paid interest on a construction loan, a mortgage and a loan on a RV. I’ve written off the interest on the RV loan in the past as I was told it is considered a second home. Can I write off the interest on all 3 or just 2? Other information Related Blogs [...]
have been quoted 7.25% on a 30-mortgage on a fixed rate basis. Also was quoted 6.375% on a 30-year interest only payment schedule. Although this reduces the monthly payment, how does this pay off a mortgage? Does this require additional payments to reduce the principal?
What are the disadvantages of these mortgage options?
Is this bill to stop foreclosure and rewrite loans? Would it be for 2nd and 3rd mortgages too?