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ELI5: Are my parents getting screwed over in their mortgage?
ELI5: Are my parents getting screwed over in their mortgage? I'm not financially literate when it comes to anything remotely related to mortgages. Please explain to me how these numbers make any sense. My mother told me she refinanced her home loan for $319,000 in California and made a $10,000 down payment for 30 years that would make the loan $318,000. She pays the following:
Principal $642.86 Interest:...
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