Mortgage companies amortization practices
I doubt anyone has questioned this in the forum before. I couldn't find the answer, so I'll pose it here.
How did society allow mortgage companies to evolve a strategy whereby mortgages all have front-loaded interest payments? Wouldn't having a balanced approach allow the loan to cost considerably less over the life of the loan, and possibly shorten the life of the loan as well?
I'm not saying I don't understand that that's just the way it is. I do. That doesn't mean I have to like it or wouldn't like to see how it's always been done changed.