Your Road Home - answer



Issue 34 - May 2018

  • False.

    Your payment is likely to change even if you have a long-term (15 years or longer) fixed-rate mortgage because while your principal and interest payment will remain the same for the life of the loan, your taxes and insurance are re-evaluated or re-assessed at least once each year. Depending on the circumstances, this may result in an increase or potential decrease in your mortgage payment.