pro/con of biweekly mortgage

[ocrenter]

the bank is offering a biweekly mortgage plan that would basically speed up loan payoff from 30 years to 25 years along with some interest payment savings. total cost is $250 initial charge and $5/month.

is this worth it?

can’t you just get the same benefit they claim by paying an extra payment toward the principal every year?

[Coronita]

This was discussed here.

Short answer, was no different from making one extra principle payment per year…

http://piggington.com/i_need_a_mortgage_genius

http://piggington.com/can_splitting_mortgage_payment_help_you_shave_10_years_from_30_y

[Coronita]

This was discussed here.

Short answer, was no different from making one extra principle payment per year…

http://piggington.com/i_need_a_mortgage_genius

http://piggington.com/can_splitting_mortgage_payment_help_you_shave_10_years_from_30_y

[Coronita]

This was discussed here.

Short answer, was no different from making one extra principle payment per year…

http://piggington.com/i_need_a_mortgage_genius

http://piggington.com/can_splitting_mortgage_payment_help_you_shave_10_years_from_30_y

[Coronita]

This was discussed here.

Short answer, was no different from making one extra principle payment per year…

http://piggington.com/i_need_a_mortgage_genius

http://piggington.com/can_splitting_mortgage_payment_help_you_shave_10_years_from_30_y

[Coronita]

This was discussed here.

Short answer, was no different from making one extra principle payment per year…

http://piggington.com/i_need_a_mortgage_genius

http://piggington.com/can_splitting_mortgage_payment_help_you_shave_10_years_from_30_y

[ocrenter]

thanks flu

26 half payments = 13 payments yearly instead of 12 payments yearly.

[ocrenter]

thanks flu

26 half payments = 13 payments yearly instead of 12 payments yearly.

[ocrenter]

thanks flu

26 half payments = 13 payments yearly instead of 12 payments yearly.

[ocrenter]

thanks flu

26 half payments = 13 payments yearly instead of 12 payments yearly.

[ocrenter]

thanks flu

26 half payments = 13 payments yearly instead of 12 payments yearly.

[Coronita]

[quote=ocrenter]thanks flu

26 half payments = 13 payments yearly instead of 12 payments yearly. [/quote]

Yup, but if you really want to be anal, you take that extra 13th payment, and instead of paying it at the end of the year, you spread it out over the 12 months as extra principle payment per month.

[Coronita]

[quote=ocrenter]thanks flu

26 half payments = 13 payments yearly instead of 12 payments yearly. [/quote]

Yup, but if you really want to be anal, you take that extra 13th payment, and instead of paying it at the end of the year, you spread it out over the 12 months as extra principle payment per month.

[Coronita]

[quote=ocrenter]thanks flu

26 half payments = 13 payments yearly instead of 12 payments yearly. [/quote]

Yup, but if you really want to be anal, you take that extra 13th payment, and instead of paying it at the end of the year, you spread it out over the 12 months as extra principle payment per month.

[Coronita]

[quote=ocrenter]thanks flu

26 half payments = 13 payments yearly instead of 12 payments yearly. [/quote]

Yup, but if you really want to be anal, you take that extra 13th payment, and instead of paying it at the end of the year, you spread it out over the 12 months as extra principle payment per month.

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