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harold_singh · Joined: 29 May 2009 Posts: 1 1.30 Dollars($)

principal on dec/31/08.Interest rate is 4.6%--5 year closed term amotised over 25 years.august 24 /09 will be my renewal date.principal on dec/31/08 was237,033.76.the 5 year term ends august/24/09.What will be my prinipal balance on august 24/098mortgage is calculated semi-annually not in advance.

admin3 · Posted: Fri May 29, 2009 2:14 am Post subject: RE : Mortgage

Hi,

The decision was made in line with the Fed’s goal of reviving consumer lending in major banks. The Term Asset-Backed Securities Loan Facility, a project worth another $1 trillion, will be opening this week and is expected to boost lending in both consumer and corporate markets.

savior70 · Posted: Fri May 29, 2009 4:53 am Post subject:

Hi

Admin3, can you explain the connection between what you've posted and what the original poster has asked for? Because, I don't see any relation between the two.

Harold, you haven't mentioned what type of mortgage you have. Assuming it's a fixed rate mortgage, I believe you can find the principal balance at the end of the first 5 years using the FRM calculator. You need to put in the entire loan amount, which you haven't mentioned here, and the term as 25 years and the interest rate as 4.6%. After the calculation, it'll give you an option to get the amortization schedule. At the end of the 60th payment, you'll find the principal balance given on the amortization schedule . You can also provide me with the entire principal loan amount and I can help you in calculating the principal balance.

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what is my principal on the renewal date of my mortgage