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Is it smart to pay a daily simple interest loan every week?

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kevansdc Joined: 05 Nov 2009 Posts: 1 1.25 Dollars($)	Posted: Thu Nov 05, 2009 11:08 am    Post subject: Is it smart to pay a daily simple interest loan every week? Like 0 Dislike 0 I've heard that you can save much money by paying weekly on a daily simple interest loan. Is this better than say bi monthly or just paying early by so many days?
greg@homebuyerhelpnetwork Guest	Posted: Thu Nov 05, 2009 5:23 pm    Post subject: Paying weekly Like 0 Dislike 0 Most mortgage lenders won't accept partial payments and are not equipped to process payments made weekly. You can turn a thirty year loan into a 20 year (appx) by making one extra payment a year. You can divide in 12 installments or pay it once, the difference in savings is minimal.

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