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From: kevin@gitpyr.UUCP (Kevin Campbell)
Newsgroups: net.consumers
Subject: Mortgage Payoffs....
Message-ID: <1038@gitpyr.UUCP>
Date: Mon, 18-Nov-85 04:52:37 EST
Article-I.D.: gitpyr.1038
Posted: Mon Nov 18 04:52:37 1985
Date-Received: Tue, 19-Nov-85 04:08:24 EST
Organization: Georgia Institute of Technology, Atlanta
Lines: 20
Keywords: semi-monthly payments

I have been following the articles that have been posted concerning    
bisemi-monty mortgage payments, and how they cut your interest, and number
of years.
  I recently read an article in Better Homes & Gardens (I believe it was the
Novemeber issue) concerning mortgages.  They had an interesting suggestion.
Evidently there are some banks that will allow you to make payments bi-weekly
at approximately 1/2 of your normal monthly mortgage payment. This has an
advantage, because by paying every 2 weeks, you actually make the equivalent
of 13 monthly payments in a year.  Which means in 12 years, you have made 
13 years worth of payments, and saved a considerable amount of interest.
 
Just a thought...
-- 
Kevin Campbell
Office of Computing Services
Office Of Telecommunications and Networking
Georgia Institute of Technology
Atlanta, Georgia 30332
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