[Gary L]

I have been making extra payments to try and reduce the amount that goes to interest each month. However, they are telling me it only comes off at the end of the loan instead of reducing my portion to interest each month and that it follows the ammortization schedule exactly. This the case on all mortgages?

[81 Honda]

I don't know of any loan that when you pay extra it reduces the interest. It should be reducing the principle, which is what you would want anyway. Are you requesting that the extra be applied to a certain portion of the loan when you pay extra? This is what you should be doing.