Re: Biweekly Mortgage Program

Anonymous · ‎04-25-2008

Who has signed up for one? Any problems and do you recommend it? Who did you use?

MattH · ‎04-27-2008

http://www.bankrate.com/brm/news/DrDon/20080324_diy_extra_principal_a1.asp?prodtype=pfin

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it

Anonymous · ‎04-27-2008

In my opinion they aren't worth it especially if they charge a fee. You can do it yourself as it only amounts to one extra payment per year and some even send the payment in later than you think and don't designate how it should be applied. Its a personal choice though so...

DallasLoanGuy · ‎04-27-2008

Knocks roughly 7yrs off of a 30yr note.

Great deal..... with or without a fee.

Thing is.... most people start out intending to make that extra payment per yr and don't.

Retired Lender

Anonymous · ‎04-28-2008

Yea, Isee how it works now. It makes 13 payments a year instead of 12. No need to sign up, just pay extra on your own.

DallasLoanGuy · ‎04-28-2008

Exactly!!!

But like I said: Some people aren't disciplined enough.

A good idea would be to devote your IRS refund or Christmas bonus to the extra payment.

Retired Lender

MidnightVoice · ‎04-28-2008

They were originally designed for people who were paid biweekly

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎04-28-2008

they were originally designed for anybody

Biweekly Mortgage Program

Get your FICO® Score for free

Biweekly Mortgage Program