Mortgage Interest Is Too High

October 27, 2007

I couldn’t remember when the first time I started to handling mortgages was. I used to help my parents manage their bill and bank documents. I think I know what was mortgage when I started to help them record their mortgage repayment. Of course, I don’t know what is poor credit remortgage and mortgage protection at that time because I no chance to keep in touch with that yet.

I started to understand why many people complaint that they are earning money to bank only. The interest rate on those mortgages are very high, we are paying at least $600 annually for every $10,000 of loan amount. What if I need to take a big amount mortgage that is $100,000? I have to pay almost $6,000 for interest only!