"Yowen - not necessarily not spaghetti and meatballs" (yowen)
10/24/2013 at 16:14 • Filed to: None
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"Yowen - not necessarily not spaghetti and meatballs" (yowen)
10/24/2013 at 16:14 • Filed to: None | 1
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I signed up for online statements and the lack of transparency is highly disconcerting... There is no way of seeing my initial loan amount (this bothers me the most), and there is no way of seeing how my total has gone down over time (this bothers me the 2nd most). All I can get details on is current balance and how much of each payment went to interest and principal. Do the paper statements offer more details? Is this lack of transparency due to a lack of regulation of online statements?
Bob Loblaw Made Me Make a Phoney Phone Call to Edward Rooney
> Yowen - not necessarily not spaghetti and meatballs
10/24/2013 at 16:38 |
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Absolutely none of that should be the case.
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Yowen - not necessarily not spaghetti and meatballs
> Bob Loblaw Made Me Make a Phoney Phone Call to Edward Rooney
10/24/2013 at 16:44 |
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Yeah, I don't think I can see my current interest rate either.
Are there any implications with switching my loan to another bank? I would love to switch to my local credit union.
J. Walter Weatherman
> Yowen - not necessarily not spaghetti and meatballs
10/24/2013 at 17:42 |
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Hmmm... not having that on monthly statements isn't exactly inconceivable, but it should definitely be accessible somewhere when you access your account online.
If you have your original loan docs, the original principal amount and interest rate will be on there. You can just plug that into an amortization calculator online and get the full breakdown of how much the principal balance will be after each payment.
You can absolutely refi the loan at a local bank, as long as it meets their lending standards. The question is, can they match your current interest rate? If you were offered one of those promotional (i.e., manufacturer subsidized) interest rates, you will wind up paying more at a local bank.
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Yowen - not necessarily not spaghetti and meatballs
> J. Walter Weatherman
10/25/2013 at 08:01 |
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Yeah I suppose it doesn't need to be on my statements, but you'd think right on the main page of my loan that information would be available. The awesome thing about the internet, is that you SHOULD be able to see every last detail about your loan.
I should have the original documents somewhere, haha... I hope (I do know where the title is, hah).
As for my interest rate, I didn't get any special rate and I am pretty sure my credit score has gone up since I got the loan. So I might be able to qualify for a lower rate at a local bank.