Most people do not make the connection. People look at payments and see the payment is more but don’t realize that their house is actually more expensive. There is a disconnect.
I am amazed by how many people gush over how they are getting a small discount on their new house by using the approved lender. What they don’t realize or don’t take the time to figure out is that they could save many multiples by shopping for the best mortgage deal.
My friend just traded in her two year old car for a brand new model. She is thrilled over the extras she “negotiated.” She said to me, “It only added two years to my payments.”
I wanted to ask her if she realized that she just flushed 20k down the toilet but knew it was useless.
