Many people aspire to own homes, and a mortgage is one of the best ways to do it. If you recently got a mortgage or want to learn more about how this financial product works, it’s important to know ...

Principal is the amount you borrowed, and interest is the amount you pay to the lender as a charge for borrowing. To ...

Mortgage recasting lets you reduce your mortgage payments and total interest by paying a lump sum toward your loan principal. When you recast a mortgage, your interest rate and loan term stay the same ...

Kiah Treece is a former attorney, small business owner and personal finance coach with extensive experience in real estate and financing. Her focus is on demystifying debt to help consumers and ...

Your monthly car payment pays for two things every month—the principal (the actual amount you borrowed) and the interest the lender charges on the loan. One way to lessen your accrued interest is by ...