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It doesn't work that way anymore, so I'm not sure what world you live in; there are banks that provide indefinite mortgages which leave you literally paying not
by andrewmcwatters 8y ago
It doesn't work that way anymore, so I'm not sure what world you live in; there are banks that provide indefinite mortgages which leave you literally paying nothing but interest and never principal.
- stevekemp 8y agoThere are certainly mortgages which only require the payment of the interest, rather than the principal: https://en.wikipedia.org/wiki/Interest-only_loan https://en.wikipedia.org/wiki/Interest-only_loan But even with interest-only mortgages you don't pay indefinitely - either a) you switch to paying down the principal after a specific number of years or b) the loan-balance becomes due.