|House Plan Weblog
Paying your mortgage on a bi-weekly vs. monthly schedule...
Posted On: 2009-07-20 at 11:09:07 AM
One easy way to save thousands over the life of your mortgage is to pay bi-weekly. Basically, you would pay half your mortgage amount every two weeks instead of paying 100% once monthly.. Making this one change can, literally, save you untold thousands off the real cost of your mortgage, because the accelerated payment causes you to pay off more principal than you would normally (if paying 100% at the end of the month.)
Submitted by: Webmaster