Re: Mortgage prepayment question

On Mar 19, 2:59 pm, dapperdobbs <George...@[EMAIL PROTECTED]
> wrote:
> I think the lender will recompute your payments, but NOT the length of
> the mortgage (you would have to refinance into a shorter-term mortgage
> for that)

Of course it would depend on the particular loan documents, but my
experience has been that prepaying reduces the term of the mortgage,
not the monthly payment. So I think you are wrong here.

Dave

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