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February 16, 2006
Mortgage Amortization
According to e AmortizationSchedule.com mortgage amortization is the reimbursement of principal from scheduled mortgage payments that exceed the interest due. The scheduled payment paid by the borrower less the interest equaling amortization. The loan balance declines by the amount of the amortization, plus the amount of any extra payment. Negative amortization occurs when the scheduled payment is less than the interest due whereby the balance goes
Posted by Guido at February 16, 2006 12:11 PM
