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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Chen who wrote (2834)	6/19/2002 3:30:46 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

How is Montana this time of year? -ggg- That's nothing I have a friend who thought that a 10% mortgage meant that she paid an additional 10% total when she paid the mortgage over the life of the loan. When I showed her a payment schedule on a typical 30 year loan with the interest/principle breakout and interest totaled over the life of the loan I thought she was going to faint. She had no idea she'd be paying three times for the house. The lack of knowledge about financial matters in this country is inverse proportional to the desire to jump into transactions. Further more, when I try to explain these things to people I encounter a general lack of interest and or the eyes glazing over. Some mistakes have to be made first hand for most people to fully comprehend them, its unfortunate but true.