Example
Data
- Principal amount of the former mortgage at the date payments on this mortgage terminated (April 30, 1981) - $35,694.93.
- Unexpired period of the former mortgage - 16 months
- Former location mortgage
|
Commencement date |
August 1, 1977 |
|---|---|
|
Renewal date |
August 1, 1982 |
|
Rate |
8% |
|
Amortization period |
25 years |
|
Payment per thousand dollars |
$7.64 |
|
Monthly interest factor |
.0065581970 |
- New location mortgage (Initial) (transferred from previous owner on May 1, 1981, duration 10 months)
|
Commencement date |
March 1, 1977 |
|---|---|
|
Renewal date |
March 1, 1982 |
|
Rate |
10 3/4% |
|
Amortization period |
25 years |
|
Payment per thousand dollars |
? |
|
Monthly interest factor |
.00876405312 |
First application for assistance, for the period May 1, 1981, to March 1, 1982.
Second application for assistance, for the period March 1, 1982 to August 1, 1982.
- New location mortgage (renewal)
|
Commencement date |
March 1, 1982 |
|---|---|
|
Renewal date |
March 1, 1983 |
|
Rate |
18 1/2% |
|
Amortization period |
15 years |
|
Payment per thousand dollars |
$15.98 |
|
Monthly interest factor |
.0148540152 |