In this being our most recent article, let's discuss a mortgage account statement. Click here.
In this being our most recent article, let's discuss a mortgage account statement.
If you bought a home in 1992 some where in Arkansas for $120,000.00 and got a $60,000.00 mortgage loan on the home to complete the purchase after making a $60,000.00 down payment, what do you think the balance should he if your set monthly payment with the interest and also the property tax is $679.00 per month and you made 60 payments over five years when, in five years, the property is now worth $210,000.00?
First of all, you need to expect that since it is a loan, the balance is to go down with each payment; not go up. Let's figure out the answer using a mortgage table in the second part of this article. But, essentially, the balance will not be $230,000.00. You expect the balance to be maybe $74,000.00 after five years of payments and to go down with every payment. Do you understand; my fine sexy scrumptious aborigine? It's time to put this confusion behind all the history and at least agree that you are entitled politically and socially and legally to a working postal service, to be free from arbitrary arrest or treatment of your body or your property, clean water. Free school up to college diploma, and the monthly cash to be paid to every citizen to satisfy Leviticus that we might wash and ge clean; glory!!! This is so when Leviticus is everything dog; shoo!!!!
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Annual Amortization Schedule
| Beginning Balance | Interest | Principal | Ending Balance | |
| 1 | $60,000.00 | $1,794.80 | $1,248.52 | $58,751.49 |
| 2 | $58,751.49 | $1,756.58 | $1,286.74 | $57,464.75 |
| 3 | $57,464.75 | $1,717.19 | $1,326.13 | $56,138.61 |
| 4 | $56,138.61 | $1,676.57 | $1,366.75 | $54,771.86 |
| 5 | $54,771.86 | $1,634.72 | $1,408.60 | $53,363.26 |
| 6 | $53,363.26 | $1,591.58 | $1,451.74 | $51,911.52 |
| 7 | $51,911.52 | $1,547.12 | $1,496.20 | $50,415.33 |
| 8 | $50,415.33 | $1,501.32 | $1,542.00 | $48,873.33 |
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