If you have a fifteen year mortgage. How many extra payments a year will reduce your 15 year term to a shorter?

Answers:1   |   LastUpdateAt:2012-11-04 05:25:02  

Question
mw
Asked at 2012-09-23 21:34:24
term. For example, I heard a 30 year amortized loan if you make an extra payment a year will reduce the period of 22 years. What will an extra 1 or 2 payments a year to make a 15-year loan . Thank you.
Answer1NehalAnswered at 2012-10-27 16:16:02
does not work that way MedlinePlus . MedlinePlus First, you have to go through your contract. MedlinePlus first a) ask the lender about punishment - how MedlinePlus apply ? first b ) your choice , have a refinance without undertaking to change your MedlinePlus term if you have extra money - always sure his contract renewed . new contract - . new payment MedlinePlus make it very legal. protect your self . That's it.
Related Questions
1
  • Answer This Question:If you have a fifteen year mortgage. How many extra payments a year will reduce your 15 year term to a shorter?