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Mortgage Professor about repayment calculator: | |||||||||||||||||||||||
Are Mortgage Refinance and Prepayment Alternatives?
April 9, 2001, revised October 9, 2002 " I have a mortgage balance of $80,000 on a 30 year 8% loan that I took out 5 years ago. I have been adding $1,000 to my monthly payment, which will pay off the loan in another 6 years. I have enough investments to pay off ... more... Interest-Only Mortgage Tutorial Here is what you will learn in this tutorial: 1. What is an interest-only mortgage? 2. For what types of borrowers is it suitable? 3. What are the hazards you should watch out for? 4. What information do you need to assess an IO mortgage? 5. How ... more... |
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repayment calculator related definitions |
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Prepayment Penalty
Prepayment Penalty Money charged for an early repayment of debt. Prepayment penalties are allowed in some form (but not necessarily imposed) in many states. Prepayment Penalty makes refinancing less beneficial within a set time period, usually 3 or 5 years. Loans with ... more... Mortgage Note Mortgage Note A written negotiable promise (agreement) to pay a sum of money plus interest at a set interest rate. The note is secured by a mortgage. In turn, mortgage is secured by property. Mortgage note states the amount of debt and the rate of interest, and makes the ... more... |
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More about repayment calculator Does Working With a Credit Counseling Organization Hurt Your Credit Score? Cardinal Principle of Homeowner Personal Loans It is a Solution for Any Sort of Financial Funding Mortgage Can Be A Long Engagement A Quick Guide to Mortgages Benefits Of An Unsecured Loan - Money For Nothing At All! Unsecured Loans UK Find the Best Opportunity Without Security No Collateral? Don't Want To Risk Your Home? Get Credit With Unsecured Loans You Will not Allow Your Mortgage to Go Astray in the Absence of Mortgage Advice Get The Finance You Need With UK Secured Homeowner Loan Loans 101: Application and Approval
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