Loans, Debt & Credit - View Single Post - Trial period and final docs VERY Different

Lionhart75 · 10-29-2009, 09:05 PM

yes all your assumptions are correct MyHAMP some other things that seem out of place are the when u look at the payment schedule the payments seem strange. It starts out payments 1-60 with a rate of 4.25% and a payment of 1545 and after that it goes from 61-72 at 5.0% with a payment of 1654.54 That seems ok when it comes to a normal loan schedule with a portion going to principal and the bulk going to interest then for no reason it goes to 0.0% with a payment of 1023.13 after payment # 71. I find it very strange that the lender or invster would allow me to have the remanding balance of 255k at a o% for the remander of the term. that is a total of almost 300 payments interest free?????????

10-29-2009, 09:05 PM	#9 (permalink)
Lionhart75 Member Join Date: Oct 2009 Posts: 12 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Trial period and final docs VERY Different yes all your assumptions are correct MyHAMP some other things that seem out of place are the when u look at the payment schedule the payments seem strange. It starts out payments 1-60 with a rate of 4.25% and a payment of 1545 and after that it goes from 61-72 at 5.0% with a payment of 1654.54 That seems ok when it comes to a normal loan schedule with a portion going to principal and the bulk going to interest then for no reason it goes to 0.0% with a payment of 1023.13 after payment # 71. I find it very strange that the lender or invster would allow me to have the remanding balance of 255k at a o% for the remander of the term. that is a total of almost 300 payments interest free?????????