That’s how mortgages work.
⚡️🇺🇸 WATCH - An American buys a $784,000 home with a $5,700 monthly mortgage.
After 4 years and $285,000 paid, only $50k hits the principal.
$230,000 is PURE interest.
Over 30 years she’ll pay $1.6M for a $784k house. This isn’t “homeownership” — it’s usury.
https://blossom.primal.net/756574e99f0794ec4f056ebdbe316ffbec2106757064eac7be59b4e70a9c73f7.mp4
Discussion
Our there’s this -
"Heter Iska Financing designed to avoid conventional interest (otherwise known as Ribbis in Jewish Law) common in traditional loans.
Heter Iska is, in short, an agreement between the customer and the financier that the transaction being provided is a partnership where all profits must be shared under a stringent set of reporting requirements. If the customer wishes to pay a specified rate in lieu of profit sharing, the customer may do so."
That's what I thought. That's the math. Houses are not an investment. Selling a home gives you a rebate of debased money if you're lucky.
Right? They literally give you the amortization schedule when you are closing. It shouldn’t be a surprise.
Someone being upset doesn’t surprise me, but I’m disappointed in nostr:nprofile1qqsy67zzq5tc9cxnl6crf52s4hptdwhyaca5j7r8jwll535tdadedvcpz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs6amnwvaz7tmwdaejumr0dskjh2zd for trying to drum up outrage over this.
Come on man!