Mortages

I previously have always thought mortgage as something not preferable, due to its great financial burden, its long repayment period, and most importantly, the high interest fees involved in borrowing money. There is also the fact that I myself am not fond of borrowing money, because the burden, both psychologically and financially is quite unbearable.

The introduction to the mortgage system was clear and understandable, and the part that I find most enlightening is the effect of your payment amount to the duration of the repayment period. Never have I thought that repaying only half the amount more of your base repayments each month could drastically reduce more than half the time of paying back the loan. That is certainly reassuring and also gives me some motivation to save up for mortgage in the future.