i have a buddy that has 6 in a C- area and his rents are up to 850. he can't rent them fast enough and has 1-2 weeks max between tenants. sure, he has more problems than me with tenants late/not paying, but damn....i think the higher the rent, the pickier the tenants... and my houses are all nice.george, what is the average time it takes you to fill a vacancy?

You're only paying interest on the balance outstanding.

Amortization is the period of time required to fully retire the outstanding loan balance by making payments in the same amount allowing for any last pament to be made that may be slightly different due to rounding and odd days interest in the first or last (or both) payment periods.

@Robert Gilstrap, outstanding!

Keep it simple.A more direct answer to your question is the interest is calculated on the average outstanding balance over a period of time, usually daily or monthly.  

I have 2 positive cash flowing self service car washes with outstanding commercial real estate for sale in the Lexington and Ballentine areas of Columbia, South Carolina.

Any direction on how or where to find out if there may be other outstanding liens on the property would also be helpful to know, assuming there's a simple, cost-effective way to find out without having to perform title search. 

Of course, just the full outstanding amount is the liability, regardless of who pays it.You say that you think "50%" of the mortgage balance will be applied --- applied to what? 

Did the whole damned ceiling fall down? 

All anyone says on here is that we need to look for a better tenant cuz we landlords cant do a damn thing to get money back