if mortgage is 960 per month, and increases by 11.40/yr. - Loan Modification - Free Foreclosure Help

stacey l · #1 (**permalink**) 10-22-2009, 07:19 AM

how long before mortgage is 1074 per month?

Asnyc05 · #2 (**permalink**) 10-22-2009, 08:50 AM

$1,074-$960 = $114So, you need to find at point in time will your mortgage go up by $114 a month.An increase of $11.40/yr is an increase of $0.95 a monthSo, $114/$0.95 = 120120 months = 10 years.Therefore, your mortage will increase to $1,074 in 10 years

Robbie G · #3 (**permalink**) 10-22-2009, 01:52 PM

(1074-960)/11.4

Bobbyboogenhagen · #4 (**permalink**) 10-22-2009, 04:11 PM

10 months.1074-960= 114114/11.4 = 10.

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