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Path: utzoo!utcs!mnetor!mot!fred
From: fred@mot.UUCP (Fred Christiansen)
Newsgroups: net.consumers
Subject: Re: Mortgage Payoffs....
Message-ID: <459@mot.UUCP>
Date: Thu, 21-Nov-85 13:00:34 EST
Article-I.D.: mot.459
Posted: Thu Nov 21 13:00:34 1985
Date-Received: Fri, 22-Nov-85 13:17:50 EST
References: <1038@gitpyr.UUCP>
Organization: Motorola Microsystems, Tempe, AZ  85282
Lines: 22

> 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.
> -- 
> Kevin Campbell

any time you plunk more money than required onto the principal of the mortgage
(presuming that this is useful, as in all FHA and VA mortgages, as well
as many conventionals), you are going to save interest and build equity.

a couple years back there was this ad in WSJ on how you could save $100,000
or more on your mortgage, just send it $10 to learn how.  since the ad was
rerun consistently, i bit and send it my $10.  what i received was a single
sheet, print on both sides, demonstrating how putting $10 or $20 or ...
per month could save you gobs of $$ in interest, build equity, and payoff
your mortgage in 12 - 20 years (depending, of course, on extra $$).

-- 
<< Generic disclaimer >>
Fred Christiansen ("Canajun, eh?") @ Motorola Microsystems, Tempe, AZ
UUCP:  {seismo!terak, trwrb!flkvax, utzoo!mnetor, ihnp4, attunix}!mot!fred
ARPA:  oakhill!mot!fred@ut-sally.ARPA          "Families are Forever"