Just signed for a mortgage loan...I feel ike I signed my life away!

You are not alone, my friend. It IS like signing away your life. And the way the loan is amortized over 30 years, you hardly see ANY reduction in the principle amount--even after 10 years! Also, these days, the banks are constantly trying to get you to refinance, to cash out more equity; they entice you with a teaser low rate and lower monthly payment. But b/4 you know it, you owe even more and you pretty much reset the clock back to beginning and have 30 years to go--over and over--every time you refinance. Lately, I've even seen seductive low payment loan offers that look good at first; but upon closer inspection, the mortgages are for 40! years. Try to pay that monstrosity off and retire in time to enjoy life. Sometimes it feels like renting is the way to go.