Hello. Back in 2010 we combined our HELOC and mortage for a loan mod. Starting in 2010 we pay 2.25% for years 1-5 then year 6 3.25 then 5% for remainder..
Our payments were 669 and we paid 1800 a month to try and be disciplined to get prinicipal down.
I just spent 2 hours in bank and on phone because they said the interest is variable and all extra payments went to interest.
How do I get the extra payments reversed to principal? I cannot find the correct person to speak with.
Any advice at all would be helpful--we would not have gotten our mod in first place without this forum.
Thanks.
Our payments were 669 and we paid 1800 a month to try and be disciplined to get prinicipal down.
I just spent 2 hours in bank and on phone because they said the interest is variable and all extra payments went to interest.
How do I get the extra payments reversed to principal? I cannot find the correct person to speak with.
Any advice at all would be helpful--we would not have gotten our mod in first place without this forum.
Thanks.