The mortgage company calculated our biweekly payments based on monthly payments...? - biweekly payment amortization calculator
My wife owns our house before our wedding. Recently, we talked about moving to a bigger house, so I looked around our financial situation. I started to figure out the amount of current left in the mortgage market, but found a little problem. It appears that the mortgage has a repayment mortgage on our businesses based on 25 years, created over the monthly payments, then divide by two monthly payments in installments every two weeks, we've paid. I know that creating a false classification corresponds to a monthly payment of 840 10080 and the actual payment of 420 every two weeks is equal to 10,920 per year! The payments are not calculated in accordance with the specifications contained in the documents loans.
My questions, bearing in mind that we are in Ontario, Canada:
1- What are the resources that we have against the lender for making this kind of error?
2 - What options are legally against the lender miscalculations, such as in official documents.
Thursday, February 18, 2010
Biweekly Payment Amortization Calculator The Mortgage Company Calculated Our Biweekly Payments Based On Monthly Payments...?
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1 comments:
This does not mean necessarily have made a mistake. Many financial institutions recommend exactly what just quickly make one extra payment in full each month, 1 year to their mortgage. The additional amount of 840 courses at first.
Usually, in discussions with the lender, whether a monthly or bi-weekly payments, we analyze this scenario. And anyway, it's something in the print "fine", which describes how the work of the bi-weekly payments.
You basically have no claim - unless the additional payments that are not at first. Assuming it makes no claim for the loss.
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