jamsvet has it right… It’s called the “Bankers Secret”; another formulation is: look at your principal payment, and pay double that (with the interest) each month.
Two comments.
1) You don’t need software to do this. Just the cash to pre-pay.
2) You can’t get a significant advantage with timing schemes. If you want to shorten your mortgage, here’s the shocking tip: pay more each month.
The worst effect of this damn bubble is that people saw neighbors buying Escalades and yachts with their HELOCs and, rather than being reinforced into paying their debts off, one painful dollar at a time, threw caution to the wind and joined the party. A dead-man’s party.
