Feelings About Long-Term Debt. In the early years of the standard 30-year mortgage loan, as little as

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Feelings About Long-Term Debt. 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.

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