We get the monthly statements and that's the thing the interest being applied is to high and the extra$100/month is for principle only and states it on the statement. There just bunch of crooks. Just addg $37/month would have reduce the life of the loan to 260 months, or round 22 years. The scrow they are over escrowing as the taxes and insurance doesn't add up to the amount they'r taking for escrow.
Here's a statement the one I was referring to but we get one every month and every four years the interest amount applied goes up.
see that's the thing that $1, 200/year is the amount of the extra principle payment. The regular payment for a loan with a beginning balance of $50, 343 with an interest rate of 8.5% is $387.09 from that comes the principle and interest. On top of that base payment is the extra $100/month in just principle. The statement showed has a total of 205.30 going for principle, but in reality they are applying less than 40% of the extra principle payment. $1200/year is extra principle.
