principals in My Home& Garden

How to figure principal and interest for a land contract? Im selling a house on a land contract. The payment is 250 per month for 5 years at 7%. Total principal is 24,000. Baloon payment after 5 years to pay off balance. Buyer makes irregular payments so tracking interest is difficult. I cant find a program to do what i need it to do. The contract says the ballon payment will be 17,761.72 so do I assume that that figure is a constant or can it be adjusted? Im lost after 10 months. I know he is behind on payments but dont know the amount that will catch him up. ... (Asked by dak0tawayne)
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You can look all over the internet for amortization schedules. I have attached one that Yahoo offers....(Answered by Matthew L)

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How does a principal broker for a real estate company get paid? I am thinking of starting a real estate company in Tennessee. What is a fair way of paying a principal broker? Do they typically get paid a salary or percentage of what agents produce? I am a licensed broker, but do not wish to be the principal. ... (Asked by ness)
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Most often, they get a piece of every transaction in the office. Their license is on the line for it. Of course, broker/owners who don't want to be principal are usually playing rope-a-dope, so whatever you can get your dope to agree to. If your practices and supervision and training were up to the task, there wouldn't be any need to pay the dope, would there?...(Answered by Searchlight Crusade)

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what does "principals only" mean in a real estate ad? ... (Asked by ballysally)
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It means they only want to sell their property to school administrators....(Answered by SndChaser)

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Who are principals to an escrow? on a purchase ... (Asked by juan c)
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Just the buyer and seller, not lender....(Answered by SndChaser)

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If I make a payment on my mortgage principal - will it affect the payments? I have friends that say two different things. How does it apply in Florida law - If I make a large payment towards the principal of my trailer, which was sold to me as a privately finaced deal from the seller, will it lower the monthly payment of the mortgage (since the principal is then lowered) , or will it just shorten the time to pay the loan of the remaining balance, reducing interest and not affecting the monthly payment amount ? ... (Asked by Cliff)
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It will shorten the term without affecting the payment amounts. It will also reduce your total interest paid....(Answered by bostonianinmo)

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Do you only need to take law of agency, principals of real estate, law of contracts to obtain a license? To obtain a real estate license in Texas.Can any other college credits be subsituted for the rest of the hours that may be needed? ... (Asked by Nl99)
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In South Carolina it is not a question of hours. It is a question of passing the State exam. The schooling is so you will be educated on the subject and be capable of passing the state exam....(Answered by Lee Taylor)

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In real estate, what does "principals only" mean? Can anyone buy it or no? what is a principal? ... (Asked by lacylynn420)
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It means they want to speak directly to the people who are going to buy the property. They will not work with real estate agent. They will not pay a commission to an agent if one represents you....(Answered by Traverse City Agent)

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Can you tell me about Real Estate Classes after you get your license? I was wondering if someone can tell me about classes that you would take after you take the Principals course... things like: how long are the classes? Are they days, weeks, months long? How much might they cost? Are they very advanced and hard to grasp, or easy if you have taken the Principals course? Do you recommend taking all of the classes that you can, or do you learn more by actually getting out there? Thanks in advance for any information you can give me. ... (Asked by trinitydreams2001)
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go to leonard hawes.com they have courses and all the info you need...(Answered by daniel r)

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Can you refinance a home that is now worth less than the principal balance? I just bought my 1st house middle of last year. I had to get a crummy loan to get in (Neg Amortization). Now I'd like to re-fi in the next 2-6 months. Problem is that my principal went up and the home value has probably dropped at least a little. If I can re-fi, will I end up with another high rate because of this? I'm in Sacramento, CA if it helps. Thanks. ... (Asked by jsn77raider)
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Yes! There are people who will finance over 100% of the property value.... you need to get out of that neg-am NOW though in order to avoid your balance going up even more. I am fairly local to you and I don't mind travelling.... give me a call or send me an e-mail to set up an appointment....(Answered by jcampos8782)

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On a 30yr fixed mortgage, if 30% of the principal is paid a week after closing how is interest calculated? Would interest be calculated off of the new amount of principal, or what? ... (Asked by ayemyavatarismad)
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Assuming you CAN pay that amount. (Some mortgages have pre-pay caps for a certain number of years) The interest usually compounds monthly, so the interest will be charged on the new balance. You end up taking several years off the end of the loan.... probably almost 15 years....(Answered by Mike)

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