Now, let’s look at this nice pair of tennis shoes. They normally sell for $100. Not too bad! But let’s say you go to the store and there’s a tag on them that they are on sale, today only!
Those $100 shoes are now on sale for $227.54. Are you buying those shoes?
Of course not! That’s a total rip off.
Yet, that is exactly what we do when we put our house on a 30 year mortgage, and make the payments on time. Only, we’re not throwing away $127.54. We are throwing away $100,000’s to interest. Because that’s what they all do.