Mortgage Forum
Which is better - daily simple interest or normal amortization?
This is a discussion on Which is better - daily simple interest or normal amortization? within the Mortgage Talk forums, part of our Mortgage Chat category; I received a letter from my 2nd mortgage holder stating that my loan had been calculated using daily simple interest ...
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September 23rd, 2008, 12:55 AM
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|  Which is better - daily simple interest or normal amortization? I received a letter from my 2nd mortgage holder stating that my loan had been calculated using daily simple interest but that was not in accordance with my contract. They are reversing all payments and changing it to normal amortization. Which one pays the loan off faster? Thanks! |
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