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.
Yet there is a way out. According to the IRS, participants in the principal reduction program may claim all of their principal reduction in 2013 and not pay a dime in taxes, regardless of whether Congress extends the mortgage forgiveness law another year or more.