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Originally Posted by disneysteve
He says that "bankers get to legally steal almost 1/2 of that right off the bat." So for some reason he is suggesting that someone earning $2500/month would be paying $1200/month in interest charges. I'm not sure how he arrived at that amount. If you are paying nearly half of your income in interest charges, you are in serious trouble.
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According to the PDF, if you had a $180,000 mortgage you'd be paying $972 a month in interest. And that's with an average 6.5% rate.
What about student loans, credit cards, car payments? You could hit MORE THAN $1200 real quick.