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
