Re: Is it true....mortgage question
We have had this happen on almost any loan we've ever had. We had to specifically state that the extra was to go to principal. Student loans are the worst for doing this IME.
Originally Posted by KrisM
No. I would not make that assumption. Banks do weird things. They might be holding it and then applying it to the next month's payment or something. I'd look at your statements and see what the payments are doing.
Paying more is a great thing to be able to do! We paid off our last house in 2 years, because I was working. This house will be about 10 instead of 15.
Kristin, wife to Dan (16 years)
, mom to Abby (14)
and Owen (7)
I cd my daycare kids! That's why I still hang out here!