The tides there range from 3.5m (11ft) to 16m (53ft) and cause erosion, creating massive cliffs. This erosion also releases nutrients into the water that help support marine life. Currents associated with the tides are called flood currents (incoming tide) and ebb currents (outgoing tide).
Once that monthly interest is paid, anything additional can be applied to the principal, and this will lessen the amount of future interest you will pay on the loan.At the same time, any payments that you make will always pay the current interest due first. Hereâs an example :. I donât believe you can make a âprincipal onlyâ payment, call your servicer to find out for sure. However, as long as you are making the contracted principle and interest payment, most contracts allow for prepayments without penalty.
Loan payoff fee: Some lenders charge an administrative fee when you pay off your mortgage or home equity line of credit. Prepayment penalty: If you have a prepayment penalty clause in your mortgage, you will have to pay a fee to pay off your loan when you sell your home.