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My mortgage does not need to be re-financed in 25 years, since it’s designed to be paid off by then. Since that’s been my main interaction with debt to date, I
by kennywinker 6y ago
My mortgage does not need to be re-financed in 25 years, since it’s designed to be paid off by then. Since that’s been my main interaction with debt to date, I assumed that’s how it always works. I’m starting to suspect from the comments here that was a bad assumption
- djbebs 6y agoMost debt at this level works with coupons. The debtor simply pays the interest every year and at the end returns the principal