We owed about $2000 when we purchased the house 2 years ago, my wife inquired on payment. We were surprised when we were told that we owed $2232. And it wouldn’t be paid off until 2032. The payment of $283.59 a YEAR was broken down to $159.73 in principal and the remaining balance of $123.86 was interest and ADMINISTRATIVE FEES! If we continued paying it on their schedule we would have paid an additional $1700. What a scam, they never talk about the ADMINISTRATIVE FEES. Pay it off if you can.
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