If I pay down half my mortgage, do the payments stay the same or go down? I place of protection’t looked at my loan documents lately. The interest will stay the same but I’m wondering about the payment decrease.
I want to decrease my monthly mortgage payments. My payment went from $675 last year to $784 this year, because of escrow increase. I want to lower that. We have a 30 yr fixed 6.65%. No prepay fees from current lender. We have only owned our home for 17 mos and we are new to this. Would it make sense to refinance to get a lower payment? If so what kinds of questions should I question the lenders and what kind of fees are involved?
I bought a house in December 2005. The home is secured by a $200,000 mortgage. The mortgage note started accuring 6% interest back in Dec. 2005; but, I don’t make payments until Jan 2010. After Jan. 2010 payments must be made monthly for 15 years. What will my payments be?
I have made monthly payments to the original creditor whom is still accepting the payments, but my debt has been sold to a collection agency. I sent them a Stop and Desist letter indicating I am still paying the original creditor and they wrote back they are taking the pertinent actions to ensure I don’t hear from them again accompanied by a so called “Validation of Debt”. What happens now?
On May it’ll be two years here. I want to lower my payments.