I thought most mortgages are compound interest, so pay additional money towards mortgage monthly is a bad idea if that additional money can be used for other investment (not, say, spend on dining out). but many financial advisors always recommend to do. I thought this is the worst investment idea bcause bank makes the most money because the that additional payment will apply towards the last payments of the loan first, in that payment, only tiny portion is interest. Is this correct?
2006-08-30
15:27:22
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10 answers
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asked by
Maxy
1