Michael Heisterkamp
Mortgage payment strategies
There is a mortgage payment strategy that says to pay half of the mortgage payment on the 1st/15th of the month and the 2nd half on the 15th/30th depending on the due date of the payment. This reduces the amount of i...
Jordan Lagrassa
loan amortization
I recently built a house and with the loan it was for 300K for 30 years . I have heard of you make one extra payment per year to principal it would cut down your loan to about 18 years. My question is does anyone know...
Robert Reynolds
Should I pay off my primary residence early?
Hello,I will soon be moving to Texas for work. I plan on buying my first home out there, but I am also planning on beginning to invest in buy and hold properties soon after I move. My wife and I will both be getting p...
Steve Tse
Rental payment deposits
I have a new PM and wonder if its typical to the management to deposit tenant monthly rental payments on the 10th of the month instead of at very start of each month ? I find it a bit strange to get the checks that la...
Ralph Ace
I had closing on April 11th and 1st payment not due to June 1st
I had closing on April 11th and 1st payment not due to June 1st.Is there a reason I need to wait over 1 month and 2 weeks to make my first mortgage payment.Thank you
Gail Shulski
PML Calculation for Interest payments and Payoff needed
I'm about to close a deal with a PML for $150,000, 12%, and 2 points. I'm going to pay interest only for 6 months and then a balloon payment of the balance on the 7th month (after I'm able to refinance with a traditi...
Colby Hanley
Forbearance – Don’t Skip That Payment till You Read This!
Thousands in Hawaii, and millions across the country are now unemployed and unable to make their mortgage payments. There are also those that own investment property where the tenant is in the same situation and can ...
Jay Gibbs
FHA 203K monthly payments
Hello Everyone,I’m thinking of doing an FHA 203K loan for a 2 unit building to convert it to a 3 unit building. This is going to be a full gut rehab on the entire building. The renovations are going to take anywhere b...
Tyler Hodgson
Bi-Monthly Rent
Hello everyone, I would appreciate some feedback / suggestions:Tenant wants to make rent payments bi-monthly. Current lease states rent of $1775 due on the 1st. They want to pay $887.50 on 1st and 15th. They said they...
Mary K.
Mortgage Payment Advice
Hello,First time posting here. I have enough money to prepay my mortgage payment for the next 6-12 months and am wondering if it would cut any time off my 30 year mortgage. To be clear, I don't mean throwing a large s...