Hi Brendan
Balance before write down 226,777 - 34,824 (12% write down) = 191,953
Percentage write down = 15.3%
Current monthly repayment 1,234.
Pending monthly repayment 1,045.
1,234 - 1,045 = 189 which equates to 15.3 % reduction in mortgage repayment.
Hope this makes sense.
Redser