Fannie Mae-No Politics (FNMA)

[jeddiemack]

Absence of information to the contrary - you'd apply simple interest calculations to the recalc and go from there.

Its not rocket science as others want to make out. Its very very simple. The key thing is instead of 10% rate initially charged its adjusted to 5%. This will naturally produce excess to apply to principal and thus lower balances carried forward to the next period. Where, we know what was paid, but now compare to a lower carry cost due to lower rate and amortization of the principal.

Several on here have run basic figures; this is very easy to apply. Don't let others blow smoke.