fauxklore (fauxklore) wrote,
fauxklore
fauxklore

Mortgage Question

Yes, I do have a holidailies entry on Areas of Unrest. It has to do with Jewish music again, as well as a critical moving related errands.

I have a sort of odd question, though, on another subject. Suppose one makes a payment of additional principal on one's mortgage. The statement comes the next month, which includes a breakdown of the regular payment with respect to principal and interest. Why is the new balance not just the previous balance minus the principal part of the previous payment minus the additional payment? Am I missing something or did they screw up?
Tags: money
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