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I am trying to understand mortgages. Do I have to pay all my finance charges if I sell my house?
recently I was approved for a loan of 180k on a 189k house. If I live in it for over a year and sell it, do I have to pay off the entire 30 year finance charge of 280k? or am I typically only responsible for the years ecrued interest plus any prepayment penalty and taxes, fees,insurance, etc? I can't find any info on this anywhere. please only serious answers who know about home mortgage finance.
