1. Home  Discuss in my forum  Bi-Weekly Mortgage Payment Plans
Accelerated Plans Reduce Interest and Help You Pay Off the Loan
Faster  Do you want to pay less interest on your home loan? Of
course you do, and it's not difficult. There are a few different
methods you can use to reduce your total interest and pay off
your mortgage at a faster rate.  Bi-Weekly Payment Plans  Your
lender probably offers a bi-weekly mortgage payment plan, where
you make a half-payment every two weeks instead of a full
payment once each month.  By paying bi-weekly you'll make
twenty-six half payments, or thirteen full payments each year--
one more than you would make by sending the lender traditional
monthly payments.  Every dollar of that extra payment goes
towards reducing the principal balance of your loan, the balance
that future interest calculations are based on. As you reduce
the principal, you reduce the total interest paid and the length
of time it takes to pay the loan.  Your lender won't accept half
payments mailed to th