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mortgage payment definition

Mortgage 101 - Defining some commonly used terms when dealing with mortgages

Albert talks about some commonly used terms when dealing with mortgages: amortization period, term, payment frequency, closed vs open mortgages ...

Cents and Sensibility: Schwab Survey Finds That Americans Define Wealth in Very Different Ways

When asked to define wealth, the top five sentiments among 1,000 Americans are:

Having a lot of money (27 percent) Enjoying life’s experiences (24 percent) Being able to afford anything they want (22 percent) Living stress-free and having peace of mind (19 percent) Having loving relationships with family and friends (12 percent)

When asked to express how much is required to be considered “wealthy” in America, survey respondents say it’s an average of $2.4 million, or nearly 30 times the actual median net worth of U.S. households according to the U.S. Census Bureau.¹

However, when asked to compare two opposing ideas of wealth at a more personal level, Americans lean into things that money can’t buy:

Sixty-five percent equate wealth with having good physical health vs. having lots of money (35 percent) Fifty-eight percent say wealth is about having gratitude vs.

Is there an official definition of biweekly mortgage payments versus semimonthly and monthly?

We just refinanced our home with our credit union and specifically asked for biweekly payments to pay off faster. They said it would be just a slighty higher interest rate. Biweekly is on our closing papers.


I had a similar problem with my re fi also .... You really need to go to a real estate attorney as these things are very compliocated and can get very "Iffy" depending on the language of the contracts signed ...