Quote:
Originally Posted by Irace86.2.0
You pay more interest, but it isn’t really a scam. Take the extra money you are putting into a 15 year note at 4%, and with a market average return of 7%,
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Scam isn't the right word, but different strokes for different folks. Depends if you want to potentially get a 7% return or actually pay your debt off faster. When I first got the loan and only seeing $70 come off of the principle every month was sickening and I would have ended up paying over three times what the house was purchased for.