To: President Donald Trump, The United States House of Representatives, and The United States Senate
For Fair and Balance to the Home Owner and the Banks.
The Petition
To be fair to the bank and the borrower to divide the monthly payment. 50% to interest and 50% to principal. This will help the owner to have equity and pay his loan sooner.
To be fair to the bank and the borrower to divide the monthly payment. 50% to interest and 50% to principal. This will help the owner to have equity and pay his loan sooner.
Why is this important?
The current system allows the banks when they give mortgages, the borrower has to pay back the monthly payment as for example:
Total mortgage $230,000.00 Monthly payment $ 1017.00 to Interest and $ 210.00 to Principal. It means 99% from the mortgage payments goes to interest. The Petition To be fair to the bank and the borrower to divide the monthly payment.50% to interest and 50% to principal.This will help the owner to have equity and pay his loan sooner. The new payment $ 613.00 to interest And $613.00 to principal. This is fair.
Monthly payment 1,017.00 to Interest
210.00 to Principal
It means 99% from the mortgage payments goes to the interest.
This not move the real estate market and we want to bring the Buyer confidence.
Total mortgage $230,000.00 Monthly payment $ 1017.00 to Interest and $ 210.00 to Principal. It means 99% from the mortgage payments goes to interest. The Petition To be fair to the bank and the borrower to divide the monthly payment.50% to interest and 50% to principal.This will help the owner to have equity and pay his loan sooner. The new payment $ 613.00 to interest And $613.00 to principal. This is fair.
Monthly payment 1,017.00 to Interest
210.00 to Principal
It means 99% from the mortgage payments goes to the interest.
This not move the real estate market and we want to bring the Buyer confidence.