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> In the same way the interest payments on a mortgage go the the bank Yeah, but at least you own something at the end of it > And the interest is often the ma
by bluefirebrand 1y ago
> In the same way the interest payments on a mortgage go the the bank
Yeah, but at least you own something at the end of it
> And the interest is often the majority of the payments people make on a mortgage
Only if you're stupid and only ever pay the bare minimum. Of course many people unfortunately are
- foxglacier 1y agoNo you don't own something at the end of it. Interest is the cost of having use of the house. If you sell the house and settle your mortgage, the bank won't give your interest back. It's lost for good.