What banks don't want you to know

When you bought your home, did you look at the truth in lending statement in very small print? It is quite shocking the first time you see it!  Did you know that if you have a mortgage for $200,000 for 30 years at 6% interest  you would pay over $230,000 in interest over the life of that loan?  Did you know that the first 5-7 years of the mortgage is front end loaded heavily with interest?  The banks know that most people refinance or move every 5-7 years. In this way the banks can get more money from you! Do you know why the banks offer refinancing at a lower rate than you are paying?  They know you probably won't have that mortgage more than 5-7 years and they can get even more interest from you!  This is why very few people end up owning their home free and clear! Google an amoratization schedule on this example and you can see the actual principle that would be paid off in 5 years. When is the American public going to wake up and do something about this?