Hey guys. I need your help.
I just got my 6 month mortgage statement and it looks like my principal payments are the same as the interest paid - concerning!. Albeit this is a stupid question, it is bothering me so here it goes:
If someone were to have a mortgage 34 year amortization, and had the payments increased so that they were on the same schedule as payments with a 25 year amortization
is this = to
a mortgage with a 25 year amortization?.
Would there be a difference in the amounts outstanding, etc? Assume all other variables cet par.
Thank you