Just a quick guess: A two-year, interest free deferral would lead to a 28 year payoff and a payment of $1,889.36 which is pretty close to the schedule they show. EDIT: Not so close (off by $100, bad math in my head).
Also, the interest rate they are using changes from year to year. 4.13% for 2021 interest, 4.15% for 2022, and up to 4.17% for 2024. Then at the end of the schedule the interest is 3.68% for 2048 and 3.31% for 2049. Haven't figured how that makes sense yet.
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
Last edited by Bill14564; 09-20-2023 at 09:58 AM.
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