> the actual cost of the home after the interest is 2x the total loan amount. So people dont want to sell for what they feel like is a loss.
You're not taking a loss though; any payment above that month's interest goes to principle. If you sell, usually you take that money and kill the rest of the principle and and end the mortgage.
You're not taking a loss though; any payment above that month's interest goes to principle. If you sell, usually you take that money and kill the rest of the principle and and end the mortgage.
YMMV outside the US, of course.