Changing your payment schedule:
This is actually
not a new concept. Back in the eighties,
companies popularized a program called a
bi-weekly mortgage.
A bi-weekly mortgage is a way to combat the
effects of amortization.
Bi-weekly mortgage is simply a mortgage pay
plan where you pay half your mortgage every 2
weeks instead of your full payment once per
month.
Not a bad plan but it has a few
challenges:
1)
Hard to keep going for the life of your loan
2)
May require a new loan to get started
3)
No support system to keep you on track
