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yes - of course!
Posted by  ReneeK_MI of MI on 7/15/11 5:15pm Msg #389808
Every day that the principal does not get paid down means more interest to the lender - yes. They get a win/win - auto payments (less risk, assumably), and more interest (if you select farther out than the due date).



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Messages in this Thread
 How are payments applied to principal balance? - SharonMN on 7/15/11 4:55pm
 yes - of course! -  ReneeK_MI on 7/15/11 5:15pm
 Disagree, Renee. See below n/m - Bob_Chicago on 7/16/11 9:44am
 mea culpa, I was wrong - thanks! -  ReneeK_MI on 7/17/11 5:53am
 Re: How are payments applied to principal balance? - samH/CA on 7/15/11 5:44pm
 Re: How are payments applied to principal balance? - Sha/CA on 7/15/11 5:52pm
 Re: How are payments applied to principal balance? -  ReneeK_MI on 7/15/11 6:14pm
 Pretty sure that amortization is computed as though - Bob_Chicago on 7/15/11 6:40pm
 Good points, Bob. -  jba/fl on 7/15/11 7:19pm
 I think some of the reasoning for offering payments -  Linda_H/FL on 7/16/11 10:25am
 Woops...s/b 3-5 days later - not 3-55...sorry n/m -  Linda_H/FL on 7/16/11 10:41am
 While payments are always due on the first, most cos. offer -  MW/VA on 7/16/11 2:08pm
 Re: How are payments applied to principal balance? -  Doris_CO on 7/16/11 6:35pm



 
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