What Is Mortgage Amortization?

Posted by on August 28th, 2008 at 07:09pm

Sub Prime Credit Card wrote an interesting post today on
Here’s a quick excerpt
Mortgage amortization is the act of repaying a loan that has been granted for the express purpose of purchasing a property. Actual amortization occurs through regular payments made over time. How Does Mortgage Amortization Work? The accounting period for mortgage amortization considers that there are 12 payment days in each calendar year. These days fall on the 1st of each month. The actual mortgage account commences on the 1st day of the month that follows the day your mortgage loan becomes

Read the rest of this great post here

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