On a 200K house, at 6.25% you'd pay $443,314.80 over 30 years. Do some math........

http://www.mortgage-calc.co...

The first 20 years aren't all interest on a normal loan. The principal starts out very small, but grows with each payment made. Theoretically, at the 15 year mark, half of your payment is principal and half is interest. Actually, the even point isn't at the half-way point of the loan though, because the relationship between principal owed and interest paid isn't a straight line from start of the loan to finish. This lets the monthly payment stay the same each month

Banks lose money EVERY time they have to foreclose on a loan.

First off, they're not in the home selling business. They have to PAY someone else to do all of the things required to sell a home.

Second, if they have their money tied up in a house that isn't paying interest, they're losing the potential income that their money could be earning.

Even in a good real estate market, a Bank is doing good to just break even on a foreclosure. In this market, they're losing their shirts.

...you have the option to send extra payments and reduce the long term cost of financing a home, but the American's consumer money is tied up already, financing cars they can't afford, paying "no interest til' 2050" at Mor's (funny, their commercial just came on), and putting every cheeseburger they eat on their VISA.

... or, you can buy your home cash

... or, you can rent.

Vincent, I am sorry if I am being rude, but you really don't have a clue about real estate in view of this post and your prior post. Real estate is a crazy business, one that many people don't understand fully, so I would encourage you to read up or ask questions, not post inane blogs on a subject you don't know about.