What Is an Amortization Schedule?

An Amortization Schedule lists the Interest and Principal by each Repayment until the loan is paid off at the end of the Amortization Period. The Periodic Payment is the total payment due each time. The majority of each payment at the beginning of the term will be interest and very little applied to principal.

Can you change your amortization schedule?

There are several ways to change your amortization schedule for your mortgage. The first is to refinance and change the rate, term or loan amount. The second way is to pay additional payments or increase the amount applied to principal. The third way is to put a large amount down on your mortgage after your purchase or refinance and request a recast.

What is a 30 year amortization schedule?

A 30 year amortization schedule is a simple table that produces a mortgage payment with compounding interest over a 30 year period which is 360 payments over the term of the loan.

How do you calculate principal and interest?

The interest on the loan is amortized if principal (P) dollars and interest (i) dollars are repaid over a the length of the term of 12 (n) monthly payments of (A).

Divorce splitting assets worksheet

Contents

A conversation about a divorce is usually an awkward one since no one plans on getting divorced and dividing assets you have acquired over the years is a painful reality of a divorce. But when you are ready to part ways with your partner, you have to move forward with dividing your debts and assets. This spreadsheet can help you with things such as making negotiations with your spouse and/or their lawyer, weighing your options and it can be attached to the final agreement.

Divorce asset splitting worksheet Download

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When it comes to dividing assets, it is not equitable to divide every debt or asset equally and this worksheet will clarify the ownership of various assets. Also, it enables one to fill in all the debt and/or property (joint and separate) and give it to the partner who desires it. The couple will then see the division of property ownership and how best to work through the division of assets. It will be easy to identify the spouse who owns the most assets and how to fairly allocate funds based on the ownership of assets and have equitable solutions.

Divorce Asset Division

When major assets like retirement and pension plans, stock options, restricted stock, deferred compensation, professional practices and licenses, rental property, houses, closely-held businesses, and brokerage accounts are involved, dividing the family’s property can be a serious issue. It can be quite difficult to determine who gets what even when things seem straightforward. If you’re having a contentious divorce, it can slow down the whole process even further.
Dividing assets on the basis of the current value (in dollars) is not necessary. You have to look at the long-term and short-term financial security of the assets you are getting. In most cases it’s normally difficult to tell the real value when you haven’t done enough research on the asset. Things to focus on include any tax implications that come with its sale, the cost basis and its liquidity.

Divorce refinance buyout options

Contact the Cain Mortgage Team to speak with a proven, professional, mortgage lender to help you find the easy path to a new mortgage or refinance an existing one. As a Certified Divorce Lending Professional (CDLP), we can give you advice that will be critical in obtaining your next mortgage. For example, in order to count alimony as qualifying income, you must provide six months of receipt! So, if you have been a non-working spouse, make sure part of your negotiations is to start alimony at least six months prior to the final divorce date. If the income starts once the divorce is final, then the non-working spouse would be required to wait at least six months before purchasing a house unless a job is obtained.

Call us today so that we can assist with getting you back on your feet and headed in the right direction for your home mortgage needs.