amortization schedule mortgage

June 27, 2008 10:14 am admin Business

Have you recently bought a home. More than likely you have a amortization schedule mortgage option. That is when you have specific payments to make, but you have a variety of options in how to pay it. These are getting more rare, but they were abundant recently. Be careful what options you choose. With house prices free falling, the negative amortization option can sneak up on you. Many times these loans are also variable rate. You may want to consider refinancing. Other than watching that interest rate - consider sending in extra money each month and paying it off sooner. Mortgage free is a great place to be.