Updated over 6 years ago on . Most recent reply
Loan P&I less than what it should be on tape
I'm looking at a 1st lien non-performing note in which the original loan amount was $117,850. The original and current rate is 4% and loan term is 360 months. The current (and original) P&I is $474. By my calculations the P&I should be $559. Wondering why the P&I would be considerably lower, something to do with the way it's amortized?
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
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You bid what it is worth to you...regardless of how much higher the balance is.