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Re: Seeking Wisdom, Bi-Monthly Mortgage Payments
Posted by CWilson (more from CWilson) on Sat, 19 Aug 2006 10:52:09
In Reply to: Seeking Wisdom, Bi-Monthly Mortgage Payments, Drew in Houston, Sat, 19 Aug 2006 09:43:39
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Check your paper work and I'm sure it states somewhere that the lender does not accept partial payments.
My lender also offered the bi-monthly package as well. I received about 4 offers in the first six months of my loan. Each offer was a bit different ($300 to enroll and .60 per transaction, the next was $100 enrollment and $1.20 per transaction, etc.) but they all ended up to net out the same if I recall. The big selling point on this is that your loan is paid off sooner. The same thing can be done by making an additional payment every year (13 payments per year) w/out signing up for the package. I would be willing to do the bi-monthly option only if it was offered at no charge.
posted by 198.181.18...
Posts in this Thread:
- Seeking Wisdom, Bi-Monthly Mortgage Payments, Drew in Houston, Sat, 19 Aug 2006 09:43:39
- Seems obvious to me - full payment when due >, ChipJ, Sun, 20 Aug 2006 06:23:27
- Re: Seeking Wisdom, Bi-Monthly Mortgage Payments, Caarma
, Sat, 19 Aug 2006 16:20:48 - My first place had a similar mortgage company>, Mike in Anchorage, Sat, 19 Aug 2006 15:51:41
- Read the contract; check your options, dudewithsaab, Sat, 19 Aug 2006 13:56:55
- Re: Seeking Wisdom, Bi-Monthly Mortgage Payments, CWilson, Sat, 19 Aug 2006 10:52:09 <-- Viewing This Message
- Is it legal? Yes. Is it smart? I don't think so., Dick in Falls Church, Sat, 19 Aug 2006 10:20:04
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