Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011
Re: Payment twice a month?

IOBA wrote:

Ask the bank if there is a fee to set up bi-weekly payments.  (Mine charged, but allows me to make as many payments as I want, no charge.  So on one payday, I do a principle ONLY payment.  The next payday, I do my regular payment plus an additional payment principle only.  On the rare occassions when I have three paychecks in a month <happens twice a year>, I make an extra principle payment.)

 

Ask the bank how they will apply the payments.   (Mine allows me to decide when I make the payment.  I choose principle only, but I do have the choice of paying ahead to the next month.)


+1 on this advice 

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