---

biweekly payments

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
b72kids Joined: 13 Feb 2011 Posts: 1 1.27 Dollars($)	Posted: Sun Feb 13, 2011 6:50 pm    Post subject: biweekly payments Like 0 Dislike 0 my morgage co says if i make biweekly payment they will hold first payment til they get second, is this legal. I am tring to help cut interest.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun Feb 13, 2011 7:43 pm    Post subject: Like 0 Dislike 0 Hi bkids, If you have a formal contract with your lender regarding biweekly payments, then the lender shouldn't hold the first payment till it gets the second payment. _________________ Procrastination is the enemy of your financial success
jveenstra Community Expert Joined: 10 Nov 2008 Posts: 1310 Location: River Edge, New Jersey 274.62 Dollars($)	Posted: Mon Feb 14, 2011 2:32 pm    Post subject: Bi-Weekly Like 0 Dislike 0 Just pay yourself monthly as always but include extra amount of one twelfth of a monthly principal and interest payment. Your loan will pay off within three months of what a bi-wweekly would pay off and you control the whole thing yourself and just pay monthly like the mortgage company wants. _________________ John Veenstra, Sr Mortgage Consultant Approved Funding Corp Licensed NJ NY CT PA 201-833-0123x278

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0