How do you own a home years sooner without making extra interest payments?
You make extra payments toward the principal.
You make extra payments toward the principal.
You make extra payments toward the principal.
You make extra payments toward the principal.
You make extra payments toward the principal.
How can I pay off mortgage fast?
You can pay off your mortgage fast by making large extra payments or paying a large extra amount with your mortgage payment. For example, a $150,000 mortgage at 5% for 30 years, paying $300 extra per month reduces the number of monthly payments by 159, or 13.25 years, and reduces the interest and total paid by $68,321.30. If you want it paid off sooner, paying $600 extra per month reduces the number of monthly payments…
What should one expect from a debt counseling service?
Debt counseling services help one develop a debt management plan, which usually consists of a budget plan and a consolidation of monthly payments into a single, lower payment. Banks are often willing to accept lower monthly payments and charge lower interest rates to those with debt management plans; hence, such individuals can realistically escape debt much sooner.
Does paying off your mortgage bi-weekly make a difference?
Yes. It saves interest by repaying part of the principal sooner (two weeks vs. one month) -- so even if your total annual payments are the same, you loan will be paid off in less time. Principal dollars being returned to the lender more frequently translates into less time each average dollar was outstanding and accruing interest.
Is it better to pay of 2 small credit cards or 1 large one?
Pay off the higher interest one first. Then, make at least double the payments on the two others and don't default on them. The sooner you can manage this, the better off you are since you reduce the dollars you are paying just for interest. A second job and serious cutbacks in your household or other expenses can really help you get there. You don't need to close the accounts, just stop using them.
What are the advantages of a shorter term for auto leasing?
With auto leasing the monthly payments are usually lower than they would be if you were buying the car. You can upgrade sooner, or more often with a car lease. However, you will usuually pay more interest with a lease and you will not own the car, therefore you do not generate any equity. To calculate the costs of leasing versus buying online, visit:http://www.leaseguide.com/leasevsbuy.htm
How much interest will I save if I pay off my loans sooner?
If it is simple loan then you will have to pay interest only for the days for which you have used the funds. This will result in saving interest on remaining duration of loan period. There are lenders who have agreement which state the extra money that you have to pay in case of early repayment. Please check loan agreement.
If you pay more than the amount due every month do you still get charged the same amount of interest?
NO, you should actually pay LESS interest over the period of the loan. You will actually pay it off sooner. If you are paying more then you need to specify to the dealer that you would like all overpayments to go twards the princeple not the interest which by lowering the princeple will automaticly lower the interest.
When is a good time to refinance a home loan?
The best time to refinance a loan really depends on your personal needs and reasons for refinancing. You might want to lower your interest rate or mortgage term. Or maybe you want to cash out the equity from your home. Weighing the pros and cons of refinancing for your particular reason is the best way to determine when it is right for you. Here are some considerations to take into account when you are deciding…
Will you have two payments such as a mortgage payment and a equity payment?
not sure of the exact question - but i will go with what i think you are asking. "if you get a mortgatge will there be 2 separate payments involved?" NO. A mortgatge is a loan that is paid back over regular increments of time, usually monthly. The payment is "applied" (by the loan company) to principal and to interest portions. Initially they will put almost all of the payment towards the interest. Theroetically, half…
What if you lease a car and you fall behind on the lease payments If you hide the car from the creditor's thugs can you be charged with a crime or only a civil action or neither?
Intentionally keeping the asset away from the creditor when you are in default is a crime in many states for which you can be charged facing fines & or jail. Even if that doesn't apply-you are charged for recovery so making it more expensive isn't helping you when the end result will be the same sooner or later anyway.
How do you proceed with a deed in lieu of foreclosure and what are the advantages?
One advantage is that the foreclosure process will end sooner. Once the bank accepts the deed in lieu of foreclosure, all of the legal procedures come to a end immediately. The bank accepts the deed as payment in full for the loan, and the homeowners are no longer in default of the mortgage. Another benefit is the homeowners will not have as badly damaged credit as if they had gone through the full foreclosure. With…
How do you avoid interest on credit cards?
By paying the entire balance on the card, in one shot, you avoid interest rates. There's no other way. Credit cards are designed & prepared to bill you interest, or finance charges (whatever you want to call it) every month until you debt is paid in full. The sooner you pay off the debt to the credit card, the faster you eliminate fees, interest rates, finance charges etc.
Is there a Star Trek comunicator mobile phone?
Not at present. There was an announcement by Sona Mobile and Viacom Consumer Products that they were developing one, but the project has been severley delayed. If you are really keen about getting your hands on one sooner then rownd up as many people as you can to contact both Sona Mobile and Viacom Consumer Products registering your interest, and perhaps they will get it on the market sooner.
What does a sooner dog look like?
A "sooner dog" can look like most any dog. Sooner isn't a breed of dog, it's more like it's a descriptive word for an attitude. I believe that "sooner" is a name for a dog that would "sooner" do this or that as to do that or this. In other words it's the sort of dog that would sooner urinate on the carpet than urinate on a tree. You can substitute the italics with most…
I just claimed chapter 13 what should I be aware of when trying to refinance my skyrocketing interest rates on my 1st and 2nd mortgage loans?
Very few lenders will refinance someone in Chapter 13, those that do will have fees and rates so high it wont help. Best thing to do is contact your current lender(who you pay your mtg. to) and discuss the situation. No lender wants to end up in a forclosure and most will try to work something out with you to avoid it. The sooner you contact them the better if you get behind in payments…
Bank will not repo your sons car it has been in your garage for over a year you have call them many times and they keep telling me that the repo man will show up?
How about giving it to your son to keep at his house? If he lives with you, let him drive it until the bank does repossess it. I would guess that is to the advantage of both of you. He still has a car to drive without borrowing yours. But certainly, if payments aren't made the repo man WILL come sooner or later. Enjoy the car while you have it!