Q Anon: 08/11/19 Trust Trump’s Plan ~ Vol.169, Q Day 653
8/12/2019, 3:48:14 PM · 527 of 737
ichabod1 to TEXOKIE
Some mortgages, when you look at them, right at the beginning it’s almost all interest. Like 75 dollars to principal and the rest to interest. #1 has to have been there a while for the principal to be as high as it is!
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Thanks for that insight!
Yes, at a certain point refinancing is not a good idea because you are starting over with the amortization and going back to paying almost all interest and very little on principal.
Luckily, it’s all simple arithmetic to make the decision.
I keep up with this stuff because I originate private mortgages.
I like to do interest only notes. No questions about amortization, you owe me the entire amount until you pay me off or make a principal reduction payment and your payment is then adjusted to reflect that. Simple for both sides.