Home » Mortgage Loan » interest loan mortgage HELP!!?

interest loan mortgage HELP!!?

2

I am in my first year of interest only mortgage…(low mon. payment)…. my mortgage broker says that there is no money paying towards the principal balance….and its eating up my equity…..after 2 more years i will need to pay a huge amount of cash!! he also stated that i cannot refi* because of a penalty?

calculating the effective interest rate… <Not sure this is the right site to ask this question. If there are better online forums for this, please share the URLs. Thanks.> I just started an application for a 15-year fixed mortgage at 3.125%. I am wondering…
Worthwhile to go 30-year IO (interest… If you had to choose between 30-year fixed at 7% and 30-year interest only at 6.5%, would you go for the interest-only mortgage solely for the tax deduction? By the way, I have *no* idea…
How to get out of a interest only mortgage!? I had a garage built and then lost my job so I got another mortgage including the garage. Well I was not aware it was an interest only mortgage until this year when I found…

im a first time buyer… please help. thank you people

what do i do?….

Related Articles
Random Questions
  • Happy to report
    Thanx all for everything u guys do here helping other understand how credit work and how to manage im happy to report that since i been on this board and made a crazy app spree …
  • Chase policies ?
    first policy I have a question is they don’t allow me to move all my credit line to another card? I had this card for 11 months and wanted to move the $ 5,000 limit …
  • Interesting discussion w/ Cap1 via FBook (EMV+CLI)
    Guess you guys were right. Their social networking team can be effective.  Will be receiving my new QS card with a chip in 5-10 days hopefully!Who hates overrated Bill Belicheat, Tom… Bill and Tom will …
  • My Rebuilding…….
    So ill start off with saying that I utilized a significant amount of trial and error on my own, having started off with approx. a 415 score, im currently at EQ-552, TU-564, EX-565.I had roughly …
  • Sallie Mae rewards reset date?
    This may be a dumb question, but can someone confirm whether the rewards count resets on the statement date?  Doesn’t appear to be calendar date based on looking at my transaction data.. but sort of …
Random Posts
Random Topics
Register New Account
Reset Password