How to Get a Mortgage Principal Adjusted?

Answer Your boss has cut your work hours. Or maybe you've suffered a serious injury that's kept you from working. Maybe your spouse has lost a job, reducing the income coming into your household every mon... Read More »

Top Q&A For: How to Get a Mortgage Principal Adjusted

How does an adjusted rate mortgage work?

Adjustable rate mortgages, (ARM), are loans with variable interest rates. The rate can fluctuate up or down based on the index it's tied to, such as Treasury Bills and the Prime Rate.Fixed PeriodYo... Read More »

What is a mortgage principal?

The mortgage principal is the balance of the mortgage debt excluding interest. It begins as the loan amount and is gradually reduced over the life of the loan through monthly repayments.Significanc... Read More »

How do I adjust the principal on a mortgage?

Speak with your mortgage company about the appropriate ways extra payments may be made on your principal. Lenders vary in how they apply an extra payment to the principal. Therefore, speaking with ... Read More »

What does a mortgage principal reduction mean?

A mortgage principal reduction occurs when the bank decreases your mortgage balance by either selling the mortgage to a different lender or modifying the loan with the existing lender. It can be ve... Read More »