Home | Ask Your Question | Mortgage Glossary |Free Credit Report | Mortgage Calculator |
|
|||||||||||||||||||||||
Mortgage Professor about Extra Mortgage Payments: | |||||||||||||||||||||||
Mortgage Prepayment by Doubling Principal
20 September 2004 "I have been advised that I can cut the life of my mortgage in half by making an extra payment to principal each month equal to that month?s principal payment. Is this true?" I have been asked this question many times and have always answered it in ... more... Simple Interest on a Biweekly Mortgage October 21, 2002, Revised January 13, 2003 "How much more valuable is a simple-interest biweekly mortgage than a standard biweekly?" Not much. On a standard biweekly (SBW), borrowers pay half the monthly payment every two weeks. Over the course of a year, they make 26 half ... more... |
|||||||||||||||||||||||
Extra Mortgage Payments related definitions |
|||||||||||||||||||||||
Bi-Weekly Mortgage
Bi-Weekly Mortgage A mortgage which requires 1/2 the normal monthly payment every two weeks. Over the course of the year, 26 half payments are made which is equivalent to 13 full mortgage payments. As a result of this extra ... more... Mortgage Baked Securities, MBS Mortgage Baked Securities, MBS Mortgage-backed securities (MBS) are bond or other financial obligation secured by a pool of mortgage loans. Mortgage loans are purchased from banks, mortgage companies, and other originators and then assembled into pools by purchasing entity. ... more... |
|||||||||||||||||||||||
More about Extra Mortgage Payments What is a Flexible Mortgage? Retire Debt FREE! Save Money on Your Mortgage Loan Biweekly Mortgage 5 Steps to Getting on Top of your Mortgage How I Raised My Credit Score 40 Points in 24hrs AND Saved $658 a Month in Interest! Are Biweekly Mortgages Really Worthwhile? Australians Strive to Pay Off Their Mortgage Sooner Refinancing Your Mortgage Can Open Up A Lot Of Options For You And Your Family Should I Refinance My House - Benefits of a Cash-Out Refinance
|
|
||||||||||||||||||||||
|