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Mortgage Calculators Deserve Their Own Site

September 11th, 2007 · No Comments

Here’s a site promising to deliver Mortgage Rate Calculators. It looks like it is a pretty new site, and very much in the works, but the idea is neat – have a set of calculators for things like mortgage rates, amortization payments and the kind. For those not in the know, amortization is the concept that lends to the fact that more of the initial money payments you make towards your mortgage counts towards the interest on the loan. This means that you’re not so much paying off the loan, as paying off the compounded interest. The amortization schedule defines the proportion between the amounts paid towards interest and the principal loan amount respectively.

After the recent sub-prime mortgage debacle, if one thing is clear, it is that gullible investors make for good prey for the sharks on wall street, and the river runs much deeper than one would have thought. Knowing your calculation and the terms involved in mortgages could just save you from ruin and bankruptcy. I hope keeps growing and provides what the website’s name promises. It will be really successful, of that I am sure.