I have a question regarding my mortgage! About 5 years ago or so, we refinanced our home at a good rate. I try to pay a little extra principle when I can. Any way, how do you figure out how much longer it will take you to pay off your home? Each month, it is broken down what was paid towards principal, escrow, etc. So, then you are left with a balance. Would I divide the entire balance by a monthly payment or what? And how accurate would it be, based on the fact that a little more is applied to principal each month? Please help me figure this out! I just want to get an idea of how many more years we actually have until our home is paid off and officially belongs to us! Thank you for your help!
2006-12-27
21:33:56
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4 answers
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asked by
Anonymous