Here’s a mortgage equity calculator for figuring amortization. It’s really helpful when figuring monthly loan payments also.
Mortgage interest is nothing but nasty
This chapter is where I climb up on my soapbox and declare to the world my quest for justice in an unfair world. The world is unfair in many ways and all too often the humble are trodden down by the rich and greedy in the unending pursuit of worldly gain.
I’ve seen poverty in one of its worst forms. I spent two years of my life in a third world country where I saw that which was unimaginable to me. Communities living in boxes along muddy ditches where drinking water and wastewater was the same. High death rates were common among all who lived there, but more so in small children under the age of six years. People would go for days without anything to eat. I was nineteen years old at the time. I grew up real fast and since then have never taken our abundance in this great country for granted. That’s been over twenty years, but the hopeless faces and the sounds of lamentation will forever be etched deeply in my memory.
Before I returned home from Central America, I looked into the situation as to why our prosperous country wasn’t giving aid to the suffering. While talking with diplomats who knew the whole story, yet were powerless as far as being able to influence their government’s leaders, I discovered the truth. The thing that was happening there was common throughout the world. Our country was sending millions of dollars for Humanitarian Aid as well as food, clothing and medicine. It is extremely difficult to bypass corrupt government officials so that the aid can go to the needy. The money is taken, medicine, food, and clothes are sold or disposed of. The greedy get richer and the poor are told that other countries refuse to offer help. This propaganda is spread among the poor and the suffering by the very people that cause it. In turn, the poor end up hating the people who are actually trying to help.
I can’t even remotely fathom this kind of selfishness. I have seen it time and time again and it sickens me now as much as the first day I found out about it. The people that inflict such suffering have their reward in this life, but someday they’ll have to explain their actions to a higher judge. That still doesn’t offer much comfort to those of us who are haunted by past images.
Ok, so you’re probably wondering what this has to do with mortgage interest. Here’s the deal. Many contributors to our Savings and Loan Banks are foreign investors. Many are domestic investors. Some of the money comes from drugs, confiscated foreign aid, weapons, and fraud, but a lot also comes from wealthy investors who have made themselves rich by usury or other practices that are legal, yet morally wrong. Basically, they have found a way to keep money out of the hands of the poor and needy and into their own to better support themselves in their extravagance.
As long as there are people hungry and suffering in the world, I see any excess wealth as extravagant.
The money we borrow for just about everything we need comes mostly from those individuals who would edify themselves at the expense of others. If you have millions to lend, you have millions to give to the poor.
In a nutshell, the low and middle-income earners work very hard to pay back mortgage interest that goes back into the pockets of the rich so they can smoke fatter cigars, drive bigger cars, drink older champagne, and hire more minimum wage help to treat badly.
If you haven’t noticed by now, I have a strong dislike for greed and selfishness. The world would be free of strife if people didn’t nurture those negative character traits. I really dislike the thought that most of my hard earned money goes back to people that possess those tendencies. The very basis of this book is how to do one thing right in our lives that will help us keep more of our hard earned money so we can be in a good position to first help ourselves, then our families, and finally our communities.
If we could minimize our home mortgage payment we would have money to do other things. Instead, so many people spend an average of about one third of their income on a house payment. If you’re typical, you’ll work about forty-five years of your life. That means that fifteen years alone of hard work will go to nothing but your house payment. It’s a shame that about ten of those fifteen work years will needlessly go to the kind of people that think it’s funny that others work so hard for them. That’s where our home mortgage interest money goes.
One might be prone to think that the rich are at least the ones that pay all the taxes that keep our country going, so they can’t be all that bad. The truth is the wealthy usually have ways of showing losses so that profits are minimized on paper. High paid accountants keep the rich from paying a lot of taxes. Lawyers defend and advise them when they cross the line from immoral to illegal. The middle class and some of the lower class wage earners pay the taxes that keep our great country going, not the rich.