# How is payment calculated for a mortgage when already missed one payment (D30)?

How is the interest and principal payment calculated when mortgage has already missed one payment? Are the new payments calculated off the new balance (non-amortized balance) or the original scheduled balance?

For example: 100k mortgage, 360 terms, 5% nominal rate, monthly payments, country: Mortgage

Period   Payment     Int    Princ  Remaining Balance
0                                    100,000.00
1         536.82    416.67  120.15   99,879.85
2         536.82    416.17  120.66   99,759.19
3         536.82    415.66  121.16   99,638.03
4         536.82    415.16  121.66   99,516.37
5         536.82    414.65  122.17   99,394.20
6         536.82    414.14  122.68   99,271.52


Now consider 6th scheduled payment (last in table), and consider that this was missed. Therefore, actual situation in 6th period

Period   Payment     Int    Princ     Balance
6         Missed    Missed  Missed   99,394.20 <- same as 5th period


How is payment for 7th period calculated? Which of the following is most appropriate?

( a ) scheduled payment for period 7 (= 536.82)
+ missed payment for period 6 (= 536.82)
+ late fee
( b ) payment calculated of Balance 99,394.20 over 353 terms (= 538.15)
+ missed payment for period 6 (= 536.82)
+ late fee
( c ) payment calculated of balance 99,394.20 over 353 terms (= 538.15)
+ missed payment for period 6 compounded ( =(1+5/1200)*536.82 )
+ late fee

• What country/jurisdiction does this relate to? – Magic is in the chain Oct 30 '18 at 18:08
• Sorry, I should have added this in description. Let me add it now. Its USA – toing Oct 31 '18 at 0:08