StrawberryPigtails@lemmy.sdf.org to News@lemmy.world · 11 months agoA 30-Year Trap: The Problem With America’s Weird Mortgageswww.nytimes.comexternal-linkmessage-square68fedilinkarrow-up1121arrow-down117
arrow-up1104arrow-down1external-linkA 30-Year Trap: The Problem With America’s Weird Mortgageswww.nytimes.comStrawberryPigtails@lemmy.sdf.org to News@lemmy.world · 11 months agomessage-square68fedilink
minus-squareomgarm@feddit.nllinkfedilinkarrow-up1·11 months agoPart of your house is paid off in that time. All mortgages are structured so that in 30 years they are paid in full. So if in 10 or 15 years you need to refinance somehow it will be cheaper than financing 100% of a residence.
Part of your house is paid off in that time. All mortgages are structured so that in 30 years they are paid in full. So if in 10 or 15 years you need to refinance somehow it will be cheaper than financing 100% of a residence.