What is a bi-weekly payment plan and what can it do for me? By making a small change in the way you make your mortgage payment, you can save tens of thousands of dollars. How? All you have to do is make half of your mortgage payment every other week. It’s just that simple. Tired of paying too much interest on your home loan? Here’s how a biweekly Mortgage works: By paying half of your payment every other week, you’ll actually make 13 mortgage payments in a year instead of 12. Just this simple straightforward method can pay your mortgage off up to seven years earlyaE”seven years of your life free of mortgage payments. How is this possible? If you’re paid every other week from your employer, then you are aware that are two months out of the year where you receive three paychecks instead of two. When you get this third paycheck twice a year that you’re not counting on, you’ll be putting money towards your principal. You are used to paying half of your payment already. This means it’s going to straight to your principal.
Posts tagged ‘Biweekly’
Did you know that 80% of 62 year olds still have mortgage payments and that’s the single biggest reason why most people are unable to retire because they’re still managing that large mortgage debt. What if I could show that a biweekly mortgage program is one of the surest ways to ensure that you’re able to retire your mortgage when you want to retire. You see, by starting a biweekly payment plan on your mortgage today, you can literally change the course of your financial future and your ability to retire. I’m about to turn 40 and I discovered that I would be just shy of seventy years old when I paid my mortgage off and that is, if I stay in my current house and never refinance again or move. That was a dramatic thing for me to realize that it would be several years past the age that I wanted to retire if I can’t even retire sooner and I would’ve still been making payments on my mortgage. You know, I tried my own do-it-yourself program for eight years, shamefully, I have to admit to you that it didn’t work. I just wasn’t consistent enough with my plan. Imagine having a third party manage your program for you and yes, your money is completely safe and fully insured, but the program goes on and on, out of sight, out of mind just like your 401k.
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