|
Negative Amortization Loan
New Jersey Negative Amortization
Loan
New
Jersey Negative Amortization loan allows negative
amortization;it means the borrower is allowed to make a monthly mortgage
payment that is less than the interest actually owed during that month.
With neg-am loans, if you don't make the full payment, the
rest of the payment will be added to your loan balance, thus increasing
your loan balance. It is up to you how much your monthly payment will be.
|
|
