7/3/2009
Friday morning

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Regarding mortgages, there are a number of mortgage and financial calculators online. One of the best Ive found is at homeowners.com and is called a scenario mortgage calculator. Most are quite simple to use and allow you to run endless what ifs through. This one (I think) also allows you to see what happen to your savings in years and interest if you pay x-amount per month in prepayments.
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How do you change the formula to take into account the changing interest rates when calculating the amortization of a mortgage?? Most loans have a cconstant interest rate.
The sites name is http://www.AmericanLoanSearch.com This site contains the latest mortgage calculators and amortization schedule. The glossary section helps me to better understand the loan terminology used by lenders.
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