That’s just time-shifting. You paid in opportunity cost to move those payments backwards in time. This may have been rational for you, since it lowers the risk

That’s just time-shifting. You paid in opportunity cost to move those payments backwards in time. This may have been rational for you, since it lowers the risk of the loan I.e. you can always walk away from such a loan when it is backed by a sufficiently valuable asset. But this doesn’t change the fundamental equation.