Is it possible for my bank to apply entire EMI mortgage payment to Interest only for certain months?

Posted by admin on June 22, 2010 Leave a comment (2) Go to comments

My bank applied 3 months of payments to only interest and nothing went to principle. Is it because of incorrect calculation by bank?

only if you agreed for a intrest only mortgage.

http://www.mortgage-calculators.org/programs/programs.html

mortgage calculation
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2 Comments.

  1. myth_kw June 22, 2010 at 6:54 am

    only if you agreed for a intrest only mortgage.

    http://www.mortgage-calculators.org/programs/programs.html
    References :

  2. !!! June 22, 2010 at 7:00 am

    Do you have an interest only mortgage for a certain period of time? What is your P&I payment?
    References :

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