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mortgage

Helping you Save: Refinance your Mortgage

Submitted by Logan Abbott on Tue, 2009-01-20 00:00

Recommendations:

  1. Check your break-even point on a refinance
  2. Refinance (if it makes sense) while rates are low

An Absurd Way to Separate you from your Money

Submitted by Logan Abbott on Thu, 2008-03-20 07:15

I received a letter from my mortgage company earlier in the week that contained a fascinating proposal. If I were to take my monthly mortgage payment and pay half of it every two weeks, I could pay off my mortgage six years early, and save tens of thousands of dollars in interest.

By itself, this isn’t such a bad idea. The reason it works is that by paying every two weeks, you end up making 13 full mortgage payments a year, instead of 12. This accelerates your repayment of principal.