Mortgage Prepayment / Loan Druid

Adam Rosi-Kessel adam at
Mon May 22 17:53:50 EDT 2006

Elizabeth Dodd wrote:
> On Monday 22 May 2006 22:43, Adam Rosi-Kessel wrote:
>> Would creating a new mortgage, starting now with the current principal, for
>> 30 years minus the number of months that have already passed since the
>> start of my real mortgage, work? Or does amortization not work that way?
> It should work, but how to do it depends on whether you are going back to the 
> original payment or now paying for less months

I'm not sure I understand what you are saying. My 30-year mortgage started
in August 2004. I've been paying every month, except that one month I
accidentally paid some extra and now the druid amounts don't match the
actual statement from the bank.

Should I just do a 340 month mortgage (360 months minus the time past since
August 2004) with the current principal? Or are you suggesting something
else might be necessary?


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