Bi Weekly Mortgage Payment 16


Bi Weekly Mortgage Payment 16

I noticed that time seems to​ move faster as​ we get older and I​ have come to​ the​ determination that this sense is​ due to​ monthly bills .​
As we accumulate more debt we find ourselves saying,​ My bills are due already? That month flew by! you​ may wonder why someone like me would want a​ bi weekly mortgage payment .​
You would think that this would really make time soar.
However,​ I​ chose this approach for a​ simple reason: principal .​
a​ person who pays a​ bi weekly mortgage payment will pay less interest throughout the​ life of​ the​ loan .​
More money is​ added to​ the​ principal that shrinks relatively quickly compared to​ its monthly counterpart .​
However,​ finding a​ bank that was willing to​ give me a​ bi weekly mortgage payment was a​ little challenging.
Way back when I​ worked for a​ loan company .​
I​ was taken back by the​ amount of​ interest people pay over the​ course of​ a​ loan .​
This really made me do my homework on​ making the​ right selections for myself .​
Not only did I​ want to​ score a​ fixed interest rate .​
I​ wanted a​ low interest rate and I​ wanted a​ bi weekly mortgage payment.
My interest in​ the​ bi weekly mortgage payment started while I​ was at​ work at​ the​ loan company .​
One of​ our customers personally delivered his bi weekly mortgage payment every other week .​
The principal on​ his loan shrunk much quicker than the​ principal on​ regular monthly options.
Granted,​ I​ was only a​ clerk who processed payments but I​ stilled learned a​ great deal about interest .​
However,​ I​ also discovered that not all loans are created the​ same .​
Some bi weekly mortgage payment plans really do little to​ shrink interest over the​ course of​ the​ loan .​
Also,​ some banks do not allow customers to​ split the​ payments into smaller increments.
If you​ consider your own traits and personality you​ can decide if​ a​ bi weekly mortgage payment is​ right for you​ .​
Some of​ us prefer to​ write two smaller checks every two weeks rather than building the​ strength it​ requires writing out one big check at​ the​ beginning of​ the​ month .​
Many of​ us can’t remember to​ make payments that are spread too far apart .​
One of​ the​ things that are appealing about a​ bi weekly mortgage payment is​ that I​ can pay my mortgage right after I​ deposit my paycheck .​
This is​ a​ great approach to​ insuring that even the​ most forgetful in​ these fleeting times remembers his mortgage .​







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