This presentation from ForeclosureDataBank.com provides insights about amortizing mortgage. Learn about mortgage term, amortization schedule, pre-payments and extra payments etc.

1. AMORTIZE MORTGAGES Amortizing mortgages, Calculating monthly payments http:// www.ForeclosureDataBank.com

2. http:// www.ForeclosureDataBank.com Learn About What is Amortizing? Basic Concepts of Amortizing Process of Amortizing your Mortgage HOW TO AMORTIZE YOUR MORTGAGE

3. http:// www.ForeclosureDataBank.com To amortize means to pay regular monthly payments to the lender against a fixed mortgage term. WHAT IS AMORTIZATION

4. http:// www.ForeclosureDataBank.com Monthly payments include principal amount and interest that is to be paid every month for fixed mortgage term. Mortgage term means number of loan repayment years that starts from 5 years up to 30 years. CONCEPTS OF AMORTIZATION Monthly Payments/Mortgage Term

5. http:// www.ForeclosureDataBank.com Amortization schedule depicts how each monthly installment is applied to balance of loan. It shows how much more principal or less interest & visa versa is divided in each installment. CONCEPTS OF AMORTIZATION Amortization Schedule

6. http:// www.ForeclosureDataBank.com Prepayments is a concept that allows the borrower to pay a few payments in advance. This provides certain amount of security in case borrower happens to miss any monthly installment. CONCEPTS OF AMORTIZATION Prepayments

7. http:// www.ForeclosureDataBank.com Extra payments allow the borrower to pay extra money or surplus money in addition to current monthly installments as per borrowers convenience. This helps reduce the principal amount sooner. CONCEPTS OF AMORTIZATION Extra Payments