Do you like it better?
2006-10-04 13:45:44 · 3 answers · asked by Winter_Decay 3 in Business & Finance ➔ Renting & Real Estate
I have one and it is the best. It helps me keep on budget better because I get paid every two weeks as well.
It also saves you a boat load of money in the end because you make the equivalent of 1 month's payment extra.
2006-10-04 13:48:55 · answer #1 · answered by leannainpa 3 · 1⤊ 0⤋
Bi weekly mortgages are great.
They allow you to pay on set schedule that can be directly deducted from your savings account. Not only that, paying every week you will pay off a 30 yr mortgage in a little over 22 years.
One of the reasons is because you are paying the principle down faster AND paying an extra payment over the whole year.
2006-10-04 22:51:43 · answer #2 · answered by Tyril 2 · 0⤊ 0⤋
I do... and it is a great idea. For those looking to pay down their mortgages early, you can do the following:
Set up your payments bi-weekly
Pay one extra payment per year & mark it toward principal only
Pay and extra 10% per month of your payment toward principal only.
All 3 methods will help you save tens of thousands of dollars in interest & pay off your house early!
2006-10-04 20:50:25 · answer #3 · answered by Anonymous · 1⤊ 0⤋