12 + 1 = 23
Remember the New Math?
Try This...
12(months) +1(one extra payment--principal only)
equals
30(year original loan) - 7(number in years of savings)
23
HUH?
Did you know that there is a way to save a lot of $$$ on your mortgage?
Did you know that if you make just one extra payment a year
(of course this is a principal payment solely)
you will cut seven years off your mortgage---instead of a typical 30 year mortgage,
you could own your home outright in just 23 years!
No mathematicians were harmed in this example although they may be shaking their heads.
Always check with the appropriate professionals your to verify how this will effect your individual financial situation.
Check with your non-human companion should you wish to try this experiment with their domicile.
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