I roughly calculated that $125,000 divided by 360 months would be $347.23 per month BEFORE interest, insurance, etc. I used an online mortgage calculator and was informed my monthly payment was over $974 per month! How is that possible even when including the 6% fixed interest rate, insurance, etc? When I search real estate websites, [...]

if you do not think so check a site like http://free-mortgage-calculator.info to see how much different your payment would be if you have a mortgage at 5% instead of 8% if you think this is a good idea then write your senator. You can find there contact info here http://www.senate.gov/general/contact_information/senators_cfm.cfm ~~Yes, if they also fix [...]

Where do I find a calculator that shows whether it is worth paying a penalty ($2700) to break my existing mortgage(4.71%with 2 yrs left to go with a lower rate (3.55%)? For calculators on mortgages, try bankrate.com They have all kinds of calculators and information, including info on how to figure out when it is [...]