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Path: utzoo!watmath!clyde!burl!ulysses!allegra!mit-eddie!genrad!panda!talcott!wjh12!pixel!pixdoc!vsh
From: vsh@pixdoc.UUCP (Steve Harris)
Newsgroups: net.consumers
Subject: Re: Semi-monthly mortgage repayments
Message-ID: <22@pixdoc.UUCP>
Date: Mon, 18-Nov-85 19:01:23 EST
Article-I.D.: pixdoc.22
Posted: Mon Nov 18 19:01:23 1985
Date-Received: Wed, 20-Nov-85 00:37:59 EST
References: <1389@decwrl.UUCP> <401@tekcbi.UUCP>
Organization: Pixel Systems, Woburn, MA
Lines: 12

I was told by a friend that the reason semi-monthly mortgage payments work
is due to the fact that half your (monthly) payment is made two weeks earlier
than with a single monthly payment; consequently the amount of time over which 
intrest is paid is reduced.

I don't really believe it, but that's what he said.
-- 

Steve Harris            |  {allegra|ihnp4|cbosgd|ima|genrad|amd|harvard}\
Pixel Systems Inc.      |               !wjh12!pixel!pixdoc!vsh
300 Wildwood Street     |
Woburn, MA  01801       |  617-933-7735 x2314