How To Make Bi-Weekly Mortgage Payments
Exposition Creative Services recently wrote an article for Investopedia.com about how to make bi-weekly mortgage payments. Here’s an excerpt:
Did you get a brochure in the mail or an email that offered a great way to chop off six to eight years from your home loan? The way to do this, according to the brochure, is to no longer pay one monthly mortgage payment but instead, pay every two weeks. The conventional logic is that increasingly the frequency of the payments doesn’t allow interest to build up and over the course of a 30- or 15-year mortgage that can equal years eliminated from your loan.