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Would my remortgage interest rates goes up if I missed a payment?
Wiki User
∙ 11y ago
Failure to make your mortgage payment will result in your lender reporting the mortgage lates to the credit reporting bureaus. Your initial late payment may result in a 30 day late which can bring your FICO scores down. For More Information go to http://www.mkemortgage.net/content/what_happens_if_i_cannot_make_my_mortgage_payment_456.htm
Wiki User
∙ 11y ago
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What are the benefits of remortgage?
If you cannot afford to pay your monthly house payment it would benefit you to remortgage it for what you owe on your house if it would cut down your payment enough so you could afford it.
Why would a person want to remortgage their home?
Remortgaging a home can lower a monthly house payment. With today's lower interest rates one can save hundreds monthly on a mortgage. Shortening the mortgage term is another reason to remortgage. With lower interest rates one can keep the same mortgage payment, but the length of mortgage is shortened. While the monthly payment may remain the same, the overall term of the loan is decreased.
How would a balloon payment effect interest on a loan?
how would a balloon payment effect interest on a loan
How long after a missed car payment does the finance company repossess the vehicle?
The question is, "Why would you worry about a missed payment when you have interest in the vehicle?" The money that you used as your down payment and any payments you have made total your interest in the vehicle. Why are people running from the repo man when in fact you can place the finance company on notice that, if your interest is repossessed, you will file criminal charges in federal court against the finance company and get triple what the car is worth. I guarantee you they won't take it. You can also put a mechanics lien on the vehicle to protect your interest in it.
How much interest only payment can one pay for a home equity line of credit?
The amount of the interest payment depends on two things which are, the loan amount and the interest rate. Normally, if your payment is set up to pay interest only then the amount of the payment would be the total amount of interest earned in one month.
Where online can you find directions to remortgage with ccj?
If you are looking to remortgage with a CCJ than your best bet would be to try Quicken Loans, or contact an associate for more information as it is tough to remortgage with CCJ.
What is the average mortgage payment on 130000?
I don't think there is a such a thing as an average mortgage payment on any given dollar amount. The principal and interest payment depends on several factors besides the loan amount, primarily the interest rate and loan term(length of the loan). To keep it simple, a 130,000 mortgage at 4.5% for 30 years would be $658.69 for your principal and interest payment. If you could afford to do a 15 year loan, at the same interest rate, the monthly payment would be $994.49 and you would save nearly $60,000 in interest. If you change the interest rate, the payment could change significantly also.
What would happen to a monthly payment if the interest rate increased?
Either the monthly payment would have to increase or the period of the loan.
Under which circumstances would one seek to remortgage their first mortgage?
One may choose to remortgage their first mortgage for several reason such as saving money to take advantage of lower rates, raising money to help pay for other things which would be cheaper than borrowing the amount separately and to consolidate your debts to save on interest rates.
How do remortgages benefit a home owner?
One of the best ways a remortgage would benefit a homeowner would be to lower the interest rate. That would help with stress, add a bit more money into your monthly budget and lower your mortgage.
What is the monthly payment for a 34000 mortgage?
It depends on the interest rate and the length of the mortgage. For a 30 year mortgage at 4.5% the payment would be $172.27. If you can afford it, a 15 year mortgage at 4.5% would be $260.10 but would save you about $16,000 in interest.
How do I Calculate interest for a late payment on a simple interest loan?
You would multiply the rate of interest by the amount owed by the amount of time the payment is late. For example if you have a payment due of 100 dollars and it is 6 months over due at an interest rate of 5% annually you would first calcuate what is the monthly interest rate by doing .05/12 which would be .00417. Then you would multiply the amount owed (100) by the monthly interest (.00417) by the number of months (6). 100x.00417x6= 2.502 Therefore you would now owe $2.50 of interest plus the original amount due 100= $102.50.
