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I don't know how the loan was set up, nor if everything is and always has been current, but I thought a mortgage was set up so that each month you paid off all the accumulated interest, and a portion of the principal. If that is the case, isn't the bank basically charging for interest that has not accumulated? I mean a $100,000 loan at 12% in the first month accumulates $1000 of interest, if the payment is set at $2000, and he sends in $4000, there is only $1000 worth of interest to take out of the payment, where would the interest BoA is taking out of the overpayment be coming from?
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'86na, 5-spd, turbo front brakes, bad paint, poor turbo nose bolt-on, early sunroof switch set-up that doesn't work.
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