Q: How do I find out how much I still owe on my home? I have been paying 318.00 a month since Feb. 2009, at 8 percent interest.
A: The answer is pretty straightforward. You need only plug your numbers into HSH.com's mortgage calculator. You'll need to know the loan's original start date, the original loan term and dollar amount and interest rate, of course. Add the information in, then press calculate. If you click the green "See details year by year" button, you can expand any year into a monthly display to find out exactly what your remaining loan balance is today.
About the author:
A 25-year expert observer of the mortgage and consumer debt markets, Keith Gumbinger has been cited in thousands of articles covering a wide range of consumer finance and economic topics in outlets ranging from the Wall Street Journal to the Bottom Line newsletters. He has been a featured guest on national broadcasts for CNN, CNBC, ABC, CBS and NBC television networks and has been heard on NPR and other national and local radio programs. Keith is the primary researcher and writer for HSH.com's MarketTrends newsletter and has authored or co-authored a number of consumer guides on mortgages, home equity, refinancing and more.