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Bank of America Mortgage
I am going to call later, but does anyone know off-hand if they offer an accelerated mortgage program?
I guess the way it works is you pay half every 2 weeks instead of monthly and it ends up that you make a couple extra payments per year so the interest gets reduced a lot more. TIA! 
Message edited 2/13/2010 9:46:05 AM.
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Posted 2/13/10 9:45 AM  |
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Long Island Weddings
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: Bank of America Mortgage
I am not sure if they do this, but my bank wanted to charge us additional money to set up this plan.
Therefore, we just choose to pay a little bit more on our mortgage every month and get the same outcome without any associated fees. Over the course of the year, we make one extra monthly payment divided up evenly between the 12 months.
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| Posted 2/13/10 10:39 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Bank of America Mortgage
We pay extra each month which equals one extra principal payment each year.
We make sure it's noted in the payment where the extra should go, not into escrow but towards principal. There is no charge for this.
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| Posted 2/13/10 3:00 PM |
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Re: Bank of America Mortgage
I'm almost 100% positive that they do, because we just refinanced and I do believe that was one of the options available that they offered us.
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| Posted 2/13/10 4:04 PM |
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nicrae
He's here!
Member since 12/06 9289 total posts
Name:
Mommy
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Re: Bank of America Mortgage
Yes they do because we have it.
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| Posted 2/13/10 5:03 PM |
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