Tag: principal amount
Refinancing: principal balance is different from pay-off amount
Are you considering refinancing your existing mortgage? If so you may be interested to learn that the amount of money it will take to satisfy your existing mortgage (known as the “pay-off amount”) will be MORE than the principal amount you owe. Why? Your existing mortgage lender will not only request that you pay-off the [...]
Posted: October 15th, 2008 under General Mortgage Info., Refinancing.
Tags: pay-off amount, principal amount, refinance a mortgage, refinance information, Refinancing
Comments: none