understanding your Adjustable-Rate Mortgage (ARM) loan agreement is crucial. It details the fixed-rate period, index your mortgage’s rate may be tied to the CMT index (like the 1-Year Treasury Constant…
Making extra mortgage payments significantly reduces total interest and loan term. By directing additional funds towards the principal, especially early in the loan, you make extra payments early to beat…
An amortization schedule details each mortgage payment's breakdown into principal and interest. It reveals that early mortgage payments go mostly toward interest due to compounding, as interest is calculated on…
A Deed in Lieu of Foreclosure involves voluntarily transferring property ownership to the lender to avoid foreclosure. It's crucial to consider all legal and tax implications before choosing this option.…