Wanting to make extra payments - should I apply payments to interest only mortgage or unsecured loan? related questions

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Wanting to make extra payments - should I apply payments to interest only mortgage or unsecured loan?1Princess2012-11-03 00:06:02
both have the same interest rate
If you make extra payments on a mortgage, does the interest you would pay per month decrease?1ikd2012-09-27 14:29:03
I was told to make the extra payment only reduces capital and therefore reduces the time it takes to pay off the entire loan and does not decrease the interest payments in the short term.
Over payments on interest only mortgage or unsecured loan?0Killer2012-09-28 08:41:04
My house is financed with an interest-only mortgage and an unsecured loan repayment in the same account with a mortgage provider and both have the same interest rate ... if I can make extra payments , I must apply the payments ?
Are there personal loans that allow me to make extra payments?1Reiny2012-10-24 06:54:02
I want to get a loan for a car, with minimum payments quite ... but I like to have the option to pay more if I have extra money a few months ... There are loans that allow me to do this ?
How fast would my mortgage be paid off if I made 2 extra payments a year?0bellas mom2012-10-27 18:50:25
It is a 30-year fixed mortgage . My payments are only 426.10 a month. So if you apply an extra $ 71 to my beginning of each month would be 2 extra payments. How is this to see how long it takes to pay ? And my interest rate is 6.5 percent
I need an online mortgage calculator that will show how extra weekly repayments & one off payments reduce loan0teas2012-10-07 13:11:22
The calculators I've found show how each of the additional payments or reduce weekly payments extras within a loan . I have to find one that shows both in the same calculation . A graph would be nice.
I missed the payments of unsecured personel loan and credit card payments now bank sent a notice to me ...?1kumud2012-10-24 15:19:02
I stopped paying my loans and personal unsecured creditcard payments since losing the job. MedlinePlus MedlinePlus Now the bank sent me a notice to appear in court ? MedlinePlus MedlinePlus kindly suggest me if I do not go to court what will happen ... MedlinePlus MedlinePlus Is there a jail ?
Will a Cheaper Interest % On a Car Loan Make the Payments Less?0Ste2012-09-10 08:51:03
or just reduce the amount of interest you pay when all is said and done? MedlinePlus You must make your monthly payments lower, so , right?
What mortgage servicers will APPLY bi-weekly payments to the mortgage 26x/yr vs 12x/yr?0AIRA2012-10-08 11:51:08
CitiMortgage only applied twice weekly mortgage payments 12x/yr . The benefit is paid extra. I want some twice a week to reduce interest faster / quicker loan payoff . Does anyone know of an administrator that is offered ? I'm ready to roll over this!
Unable to make mortgage payments?4Scott2012-11-02 19:54:01
I was recently laid off and can not make my mortgage payments . My financial advisor has not been able to secure a loan or refinance because of my bad credit rating and the lender that the house needs a lot of work . Now it has been suggested to me that I allow an investor to buy the house . I'd like to get some money up front , the investor could make monthly payments while making repairs to the house . When the house was ready to be sold would receive additional money . Does anyone have first hand knowledge of this program and if it's a good deal for someone like me ?
I'm repaying a student loan...should I apply my payments more heavily towards the Principal or the interest?0Bach2012-11-03 22:01:57
In the automatic deduction, almost all of the payment goes toward the interest (like 90%). If I make a manual payment, it gives me the option to apply the payment directly towards the principal. Which strategy is better for the long run?
If I make double principal payments on my mortgage should it take more than one month off the end of the loan?0Traccy2012-11-06 07:04:02
I just started my payments in December of '07 , and have been making principal payments double and triple each month . I've been following the online amortization schedule is updated after each payment . The only bonuses seem to be taking a month since the end of the loan . I've always heard to pay extra to take " months" of your loan that makes since I ... principal less = less interest over the life of the loan savings = months . Can someone explain it to me in more detail ... Thank you.

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