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extra mortgage payment..how do i do it?
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strongisland
All you need is love
Member since 8/07 2474 total posts
Name:
T
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extra mortgage payment..how do i do it?
i want to pay an extra mortgage payment but i am unsure as to where i would put the extra payment towards (where do i write it on my bill)??
do i write 2 X monthly payment section & double my mortgage payment?
or
do i do 1x month payment and then put the other month payment under additional principal??
i have wells fargo/30yr fixed
im confused!! thanks!
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Posted 4/5/10 10:53 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
Exarina
My Two Girls
Member since 12/09 1249 total posts
Name:
Lisa Marie
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Re: extra mortgage payment..how do i do it?
Make sure you make your extra payment and it goes towards the principal!
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| Posted 4/5/10 11:00 AM |
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LeShellem
A new beginning
Member since 2/07 3600 total posts
Name:
LeShelle
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Re: extra mortgage payment..how do i do it?
Posted by Exarina
Make sure you make your extra payment and it goes towards the principal!
Ditto, put it to the principal. If you don't specify they will put the extra cash towards the interest and that won't help you at all.
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| Posted 4/5/10 4:28 PM |
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MeNBobs
*****
Member since 4/07 3765 total posts
Name:
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Re: extra mortgage payment..how do i do it?
Does your mortgage stub look like the one posted posted below?
If you pay $100 a month fill that in as you would regularly. In the box under it where it says additional principle write in $100 again. If you want to include an extra payment over the course of a year divide $100 by 12 and write that amount in the additional principle box.
At the bottom for total included mark it down as $200.
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| Posted 4/5/10 5:08 PM |
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