Fast-tracking mortgage payments
Making biweekly mortgage payments instead of monthly shaves years off the life of the loan and saves thousands of dollars in the long run. But is it the best idea? Maybe not always. And maybe not for everyone.
I wondered: Could this be possible?
The direct-mail solicitation claimed that we could shave years off the life of our 30-year mortgage and save thousands of dollars in interest by making half our mortgage payment every two weeks instead paying once a month. Of course, there was a fee.