selling home with mortgage?

have a question. im a little confused. okay, if your home mortgage is say, 170,000 what you currently owe, and you still have 25 more years to pay, then if you sold the house doesnt a bunch of interest fall off the mortgage? bringing down the amount you actualy must pay off on it? ive seen mortgage payoff calculators, and that is what is seems, but are all mortgages this way, so if you early payoff you own much less because innterest falls off? thanks

You have the correct information.

When you go to escrow or the closing agent, they will ask for the mortgage information. They will then send a request for pay off from this mortgage company if it is paid off in 10-30 days.

The mortgage company will send a demand back for a certain amount of money which include interest to the day of pay off. Since the mortgage is being paid off all the future interest will not have to be paid.

I hope this has been of some use to you, good luck.

“FIGHT ON”

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