Notice of Mortgage Payment Change
Chris at Hauseit (https://www.hauseit.com) explains what a Notice of Mortgage Payment Change, often called just a Payment Change Notice, is and what a sample letter from your bank or mortgage lender looks like.
Save 2% When You Buy: https://www.hauseit.com/buyer-closing-credit/
Save 6% When You Sell: https://www.hauseit.com/agent-assisted-fsbo/
Save money when buying, selling and renting real estate in New York and Florida with Hauseit. Available in NYC, Long Island, the Hudson Valley and South Florida. Visit https://hauseit.com, send us an email to team@hauseit.com or give us a call: (888) 494-8258 to learn more. Established 2014.
1% Full Service Listing: https://www.hauseit.com/1-percent-full-service/
Rental Listing Service: https://www.hauseit.com/rental-listing-service/
...
A Notice of Mortgage Payment Change, or a Payment Change Notice letter from your bank simply means a letter explaining the terms of your mortgage as it relates to the interest rate you'll pay, how it will differ vs your last payment period, and what you can expect in terms of caps or maximum change amounts per payment period.
For example, you can see in the sample Payment Change Notice letter we show you in this video what the interest rate and interest expense is in the prior and upcoming payment period. You can also see the maximum interest rate cap, as well as the maximum change amount in the interest rate per payment period. You can also see that they interest rate changes every 12 months.
You can also see in our sample Payment Change Notice letter that the interest rate is based off of an index plus a margin. The index in this example is 1 Year LIBOR, and the margin is 2.25%. So essentially, when this interest only adjustable rate mortgage (IO ARM) floats, the interest rate is equal to 1 Year LIBOR + 2.25%.
We hope you found this video helpful, please leave us any additional questions or topic ideas below. We hope to work with you!
...
https://www.hauseit.com
Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Est 2014.
Hauseit Group LLC, Licensed Real Estate Corporation
Tel: (888) 494-8258 | https://www.hauseit.com
_
#hauseit #hauseitnyc #hauseitmiami #hauseitsouthflorida #hauseitlongisland #hauseithudsonvalley #hauseitwestchester #hauseitrealestate #hauseitre
-
1:31:16
Kim Iversen
11 hours agoAmazon REMOVES Books Critical Of Kamala Harris | Netanyahu Claims Israel Killed “Practically No” Civilians
116K165 -
1:49:40
Glenn Greenwald
11 hours agoNetanyahu's Speech To Congress; Project 2025: Untangling Fact From Fiction with Heritage Foundation President Kevin Roberts; PLUS: Max Blumenthal on Israel | SYSTEM UPDATE #303
149K273 -
1:07:52
Benny Johnson
11 hours ago🚨Joe Biden Speaks from Oval Office After DROPPING OUT | RESIGNING Live
145K323 -
LIVE
Right Side Broadcasting Network
4 days agoLIVE REPLAY: President Trump Holds a Rally in Charlotte, North Carolina - 7/24/24
5,673 watching -
1:57:33
BetterBachelor
15 hours agoBiden addresses drop out from election race and plans for the country
96.7K76 -
1:47:37
TimcastIRL
2 days agoBiden DROPS OUT, Endorses Kamala Harris As Democrat Nominee | Timcast IRL
176K286 -
1:11:50
Redacted News
13 hours agoEMERGENCY ADDRESS OVER BIDEN COUP, BARRICADES NOW UP AROUND WHITE HOUSE | Redacted w Clayton Morris
247K622 -
48:30
Candace Owens
21 hours agoSo…Is Joe Biden Dead? | Candace Ep 30
121K380 -
19:08
Adam Does Movies
12 hours agoLonglegs Wasted My Time And Money - Spoilers!
80.7K4 -
4:11:21
Fed Reacts
15 hours agoFed Reacts To FBI Testimony on Trump Assassination & Netanyahu Speech
107K85