Commonly borrowers pay monthly. Some servicers permit twice monthly payments that ultimately reduce interest costs to the borrower.
Casualty insurance on the collateral property to protect the investors in the mortgage (some borrowers pay direct to insurer).
States tax property owners and government liens are senior. To protect investors, servicers often collect and remit taxes due.
Virtually all consumer mortgages require at least monthly remittance of principal.
Interest remitted is based upon unpaid principal balance outstanding.
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