As a basic rule, mortgage interest is calculated each day, based on the amount of money (or principal) still owing on your loan. As the principal declines, so does the borrower’s interest bill. For example, if someone took out a $500,000 principal-and-interest loan, interest would be charged initially on $500,000; but if, say, a year … Read more
When someone takes out a car loan, they may be given the option of repaying the loan through two different structures – one with a balloon payment and one without. For borrowers who take out a car loan without a balloon structure, they repay the loan through a series of regular monthly payments. Once they’ve … Read more
The vast majority of Australians who sell their home use a real estate agent to represent their interests. However, only a fraction of buyers have their own representative. A buyer’s agent, also known as a buyer’s advocate, is a real estate professional who is hired by the buyer and who has a responsibility to represent … Read more
