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June 07, 2006
Mortgage Loan: Negative Amortization
Negative amortization mortgages are loans where the monthly payment is not enough to cover all of the interest due for that month. The unpaid interest is added to the mortgage principle balance; this means your mortgage loan is actually growing with time. There are certain circumstances where negative amortization mortgages make sense and can be a short term fix to a financial need; however, many homeowners experience negative amortization with their mortgages and don't even know it. Here is what you need to know about negative amortization and your
From Mortgage Loan: Negative Amortization
Posted by Greg at June 7, 2006 03:32 PM
