Loan Modification

Can somone show me how to calculate a mortgage payment

like for example

what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years?
Can somone show me how to calculate a mortgage payment

like for example

what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years?

I need to know how to do the mathematical calculations, don’t just give me the anwser.

monthly payment = interest portion + principal portion
m1=12 in us the interest is compounded monthly
(in canada m1=2, interest is compounded semi-annual)
m2=12 payment every month
YR=25
%int=6 percent annual interest
n= m2 * YR = 12 * 25 = 300
int=%int / 100 / m1 = 6 / 100 / 12 = 0.005
INT = (1 + int) ^ (m1 / m2) -1
INT = (1 +0.005) ^ (12 /12) -1 = 0.005
PV = loan = 200,000
F1 = interest portion of mortg
F1 = PV * INT = 200,000 * 0.005 = 1000
F2 = equal monthly payment factor
F2 = 1 – [1 + INT] ^ [ - n ]
F2 = 1 – [1 + 0.005] ^ [ - 300 ]
F2 = 0.77603432
PMT = monthly payment = F1 / F2 = 1000 / 0.77603432
PMT = 1288.60

I am trying to understand secure bonds and I know mortgage bonds are secured bonds,if that is the case,even if they default ,the investor should get the prinicipal back.Can someone give an explanation of this works.

I’ll try to explain this clearly, because it can be confusing:

Person Z buys a house using a mortgage from Bank Z. Bank Z takes Person Z’s mortgage and packages it up with many other mortgages. Bank Z then sells the mortgages to Company R.

Company R issues bonds using the mortgages as collateral. In effect, they are saying "Even if our corporate credit isn’t enough to convince you to buy our bonds, we’re backing them up with these mortgages for extra protection." Because the bond is secured, they can offer a lower coupon rate (the bond is less risky). Person A, seeing this great secured bond, buys a lot of them.

Now, interest rates rise and Person Z’s adjustable-rate, interest-only jumbo loan goes from $800/month to $3500/month. Person Z can’t pay and defaults on the loan.

The bonds that Person A bought have had their security defaulted on by Person Z. They are still backed by the homes themselves, but since EVERYONE is defaulting property values are plummeting. Even worse, the mortgage company is incurring huge costs to buy the house at auction and carry it on their books until they can sell it and get their money back. The bonds issued by Company R are much more risky now.

In order to compensate for the extra risk, investors refuse to buy Company R’s bonds until they can get them at a very steep discount. This means that Company R won’t raise as much money as they need. If Company R doesn’t raise much money, they likely won’t buy mortgages from Person Z’s lender any more. If the lender can’t sell it’s mortgages in the secondary market, it won’t have as much money to lend. Without much money to lend, the price of money goes up. If money is more expensive, other people have difficulty borrowing money. If everyone has trouble borrowing money, none can afford to buy the foreclosed homes and the downward spiral continues.

My friend was selling his house and couldn’t make the mortgage payments while the house was on the market. He said the real estate agent/company would pay his mortgage while it was up for sale. Then when the house sold, they deducted it from the price of the sale. How is this done?
Also, if you don’t make any mortgage payments while the house is on the market can it go into foreclosure?

the real estate agent "loaned " your friend money to make mortgage payments while the house was on the market,or during the closing period,,these payments were rightfully deducted from the net profit,if any,from the sale

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http://www.60MinuteLoanModification visit for a free CD on Mike Rockwood’s experience modifying 5 of his own home loans – and how you can too. Ask Mortgage Modification questions on our forums at http://www.60minuteloanmodification.com/members

For me, the housing market implosion became personal. If youre reading this article its likely that the crisis has become that way for you, too.

Never in history has so much wealth evaporated so rapidly. It became a global problem, too, as mortgage-backed securities and derivatives are traded on exchanges around the world.

Approximately 15 million Americans purchased homes at the height of the housing bubble (from 2004-2006). Today they find themselves at Ground Zero in the housing crisis. Some experts say more than 8 million homes (16%) will go into foreclosure before 2012.

Over 600,000 loans were modified in 2008. That number is expected to quadruple in 2009. The burning question on the minds of homeowners today should be, How much and how rapidly can I modify my home loan?

In 2005 I purchased a long neglected home with big dreams of rehabbing it for my own. It seemed like a sweet real estate deal and it was until the U.S. housing market collapsed. Unfortunately, by that time I had already sunk $90,000 into improvements, so I resigned myself to riding out the housing downturn. At least the home turned out lovely and my wife of 34 years was pleased.

When my income declined too much, it became clear I couldnt meet my obligations. I racked my brain for a solution: Where could I cut back? What is the absolute minimum I could pay? Do I have any stocks or investments to sell?

I Wanna talk about ME!

I have always been conservative. I take pride in working hard and dreaming big. Like most Americans, I dont expect handouts. Im proud of my ability to care for myself and raise a happy family with solid moral values and work ethic.

You get the pictureIm probably a lot like you! Salt of the earth! But I began to feel that the economy had fundamentally changed, especially the housing market, and normal homeowners were being left behind to carry the burden.

New tales of corporate excesses are revealed daily. We learned of VIP loans for Senators and platinum parachutes for executives at Countrywide; Detroits big three automakers flew into Washington on private jets to pick up their government handout; Wall Street theif Bernard Madoff admitted to cheating clients out of a cool $50Billion; and on and on! It looked like a collapsed house of cards.

Remember Blazing Saddles? It contains a scene in which Gene Wilders character describes good, traditional citizens. He says, They have unchanging values, the salt of the earth people you know morons! Thats how I felt. Thats how I still feelmoronically passive while getting robbed!

My first loan modification was absolutely torturous. I actually failed three times on it before I finally cracked the code! I read through hundreds of pages of information published by non-profits, spent hours on hold with the bank, and attended one of the first Loan Modification live events designed to assist homeowners in distress. Instead of the anticipated turnout of 200, some 2,000 people showed up. Many of them waited over 5-hours just to talk with a bank representative. It was impossible not to see the similarities to the long lines of desperate Americans in line for soup and bread during the Great Depression.

Well, it certainly shook my psyche a bit. But sometimes reality bites!

The mod that came out of that meeting saved me $686 per month and almost $194,000 over the life of the loan.! Do I have your attention now?

Needless to say, it got my attention! How often do we get the opportunity to reduce monthly expenses by $686? Most people have to get a 2nd job to earn that much and thats taxable income! And, here is the financial benefit to me:

I had gone from inept bumbler to laser-focused loan mod mercenary. I was fast, fearless and dead serious about getting the best loan modification! Now, my experiences can help you.

Learn more about the opportunity to modify your mortgage with a free CD called 60 Minute loan Modification Secrets. Get it at my site http://www.60MinuteLoanModification.com.

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If you are having financial hardship, Loan Forensics is a Mortgage Rescue Plan and can help you get Lower Monthly Payments on your Mortgage! Loan Forensics is the Mortgage Restructuring firm everyones talking about! Were Attorney-based, Nationwide and best of all were 98% successful! We perform Loan Analyses and negotiate modifications to your Existing Mortgage resulting in a lower Interest Rate and Monthly Payment. This is called a Loan Modification and were one of few firms doing it legally, correctly and successfully!

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Intelligently designed to be an all purpose mortgage loan modification software, Casi Mod is utilized for all your specific needs. Whether you’re a processing center, retail branch, law office, etc., Casi Mod will be a valuable tool for your organization.

This powerful loan modification software will assist you with selling, tracking, processing, managing, communicating, marketing, and much more.

Let’s face it, to prosper in the loan modification business it is necessary to have a efficient loan modification software that allow you to pre qualify the client from the initial stage, create a plan, send it for pre approval, and finally, submit it to processing.

Why spend hours trying to convince a client when in the end the prospect doesn’t qualify for a mortgage loan modification? With Casi Mod, pre qualifying the client is very simple and quick. The automated functionality allows you to quickly access financial details, determine if you have a solution, review them with your client, and immediately send them the loan modification package ready for signatures.

For re-assurance the sales agent can easily send pre qualification request to a heirarchy before submitting the file to the processing department. In other words, time is very valuable and why waste on files that cannot be modified when you don’t have to?

Once submitted to processing, the built in tracking feature enables negotiators/processors to track file status instantly (by lenders, amount of days in processing, NOD’s filed, files approved , signing, signed, closed, etc). Furthermore, the built-in internal messaging feature, this software provides file updates to all individuals involved with the file. Therefore, your negotiators/processors can focus on what they do best and that is negotiating with the banks to ensure that the loan modification will be successful.

To satisfy your clients needs, Casi Mod also provides detailed notes to update the processing file status; each time an administrator (processors, attorneys, negotiators, managers, etc.) accesses a file or create notes, Casi Mod automatically logs it into the processing notes section. This will allow you send status updates to your clients or affiliates with a mouse click to ensure them the file status at all times.

Moreover, Casi Mod will also give you an overview of your whole organization. As a manager you will always be in aware of what your staff is doing every day with the Manager Dashboard. Designed as a heads-up-display, it allows you to review daily, weekly and monthly production. Furthermore, Casi Mod will give you the ability of running numerous types of reports such tracking leads, lenders, sale dates, processing and sales pipelines, and more.

Finally, for your convenience, we now offer both solutions. Choose the desktop solution to control your environment or choose the web solution and access from anywhere as long as you have an internet connection.

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