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No. You can apply additional money to your monthly payments and that will accelerate your payoff. If you are looking for a shorter contractual term you will need to refinance the loan

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Q: Is it possible to increase the amortization of an existing mortgage?
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Where is it possible to learn about mortgage amortization?

You are able to learn about mortgage amortization from various resources, ranging from college textbooks to online knowledge bases such as Investopedia or Wikipedia.


How does one get a 2nd mortgage loan?

One can acquire a second mortgage from any lender based on the existing equity on the home. Basically, the second mortgage is borrowed on the "paid off" portion of the existing home, which is why it is also referred to as a home equity loan. You should, after having your home appraised, contact multiple lenders to find the best possible deal in terms of both interest and closing costs.


Is the us bank home mortgage any good?

Us Bank Home mortgage offers options tailored to Home mortgages threw their Making Home Affordable Program. If you qualify and your current mortgage is up to date, you may be eligible to refinance your existing mortgage. There are many options for Home Mortgages that make this bank a possible great choice.


Is it possible to get cash back on a mortgage refinance?

It is indeed possible but you should first determine if refinancing your mortgage will be favorable. You can then apply for a new mortgage after you have decided on the amount of cash that you need.


Where is it possible to get a no closing cost home mortgage?

It is possible to get a no closing cost home mortgage from many providers. An example of one of these is a mortgage from Nation Wide mortgages. There is more information about this on their website or on Ehow.

Related questions

Where is it possible to learn about mortgage amortization?

You are able to learn about mortgage amortization from various resources, ranging from college textbooks to online knowledge bases such as Investopedia or Wikipedia.


Is it possible to remortgage a home through Advisor Mortgage Group?

Advistor Mortgage Group offers a full range of mortgage services. This includes remortgaging one's existing home, as well as obtaining a first mortgage.


How does one get a 2nd mortgage loan?

One can acquire a second mortgage from any lender based on the existing equity on the home. Basically, the second mortgage is borrowed on the "paid off" portion of the existing home, which is why it is also referred to as a home equity loan. You should, after having your home appraised, contact multiple lenders to find the best possible deal in terms of both interest and closing costs.


Can you add additional RAM memory to your existing computer?

It is possible to increase the amount of RAM on your computer through an upgrade. These upgrades would be able to increase your RAM by a few Gigabytes.


Is the us bank home mortgage any good?

Us Bank Home mortgage offers options tailored to Home mortgages threw their Making Home Affordable Program. If you qualify and your current mortgage is up to date, you may be eligible to refinance your existing mortgage. There are many options for Home Mortgages that make this bank a possible great choice.


What will happen to home mortgages if there is debt deflation?

There are many possible situations that may arise from an increase in debt deflation. One possible outcome to a home mortgage would be a fluctuation of one's rate.


Is it possible to get cash back on a mortgage refinance?

It is indeed possible but you should first determine if refinancing your mortgage will be favorable. You can then apply for a new mortgage after you have decided on the amount of cash that you need.


How can one obtain a mortgage to buy a property in Bulgaria?

It is not possible to obtain a UK mortgage to purchase a property in Bulgaria. However, it is possible to obtain a mortgage in Bulgaria, by approaching a Bulgarian bank.


Where is it possible to get a no closing cost home mortgage?

It is possible to get a no closing cost home mortgage from many providers. An example of one of these is a mortgage from Nation Wide mortgages. There is more information about this on their website or on Ehow.


Is it possible to refinance an ARM with a mortgage company given the credit crisis?

It is possible to refinance an ARM. The options available vary by customer and their history with the mortgage company.


Is it possible to have your mortgage loan modified if one is current on mortgage payments?

Yes, although mortgage companies are more likely to modify a loan in default.


Are affiliated with a group who is sending your mortgage documents to the world court system and they will dissolve your mortgage is this possible?

I meant to say our mortgage. Sorry for the mess up