Quick Tip: Shave 7 Years Off Your Mortgage!
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Here’s a real easy Quick Tip for you! This is not my idea. This is from David Bach. Do you want to know how to shave 7 years off of your 30-year mortgage? This is not a get rich scheme or anything illegal at all! All you have to do is say the words “biweekly mortgage plan”.
This plan let’s you pay your mortgage “biweekly”, or in other words, “twice weekly”. This will split your mortgage payment into two for each month. So, for example, if your mortgage payment is $1000, there will be two payments of $500 each. What this does is it adds an extra payment a year. It may not seem like much, but in the end, it will shave your mortgage by seven whole years! What a quick and easy way to save a ton of money in interest payments! Plus your home will be paid off quicker!
So go call your bank or mortgage company and ask for the biweekly mortgage plan! Many banks are now offering this. Some banks do charge for this but the saved money and time is worth it in my opinion!
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