3 ms·
Of course they aren't, which is why they're perfectly happy to continue refinancing. They make money on the interest, not the principle. And each refinance in
by jdmichal 5y ago
Of course they aren't, which is why they're perfectly happy to continue refinancing. They make money on the interest, not the principle. And each refinance increases the bank's total collected interest. As long as they eventually get the principle back, a bank is perfectly happy with this arrangement.