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mortgage planner: Don't Want Your Mortgage? Get Rid Of It! - 08/22/07 10:54 AM
How to Reduce Your Mortgage
One Additional Mortgage Payment a Year
There's a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan's principal.
This is the method being used by "Bi-Weekly Mortgage Reduction Services" and "Bi-Weekly Mortgage Savings Programs". Only, when you do it yourself, you don't pay a third party unnecessary set-up costs and fees, and you pay it on YOUR schedule, when you have the funds available!
Example: $100,000 loan, 30-year mortgage, 6.5% fixed interest rate
One-time Payment
It may … (2 comments)
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Gareth Bourriague - Benchmark Mortgage
Baton Rouge,
LA
More about me…
Benchmark Mortgage of Louisiana
Address: 8704 Jefferson Highway, Suite B, Baton Rouge, LA, 70809
Office Phone: (225) 927-5282
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