In the early years of the standard 30-year mortgage loan, as little as 10 percent of the

Question:

In the early years of the standard 30-year mortgage loan, as little as 10 percent of the monthly payment actually goes toward repaying the debt. As a result, it takes many, many years for the loan balance to come down to any significant extent. Explain how that affects your feelings about taking on such a long-term obligation.