interesting mortgage information...

i have yet to research this information, so proceed with caution.

when we closed on our house, the title agent told me that making semi-monthly mortgage payments and/or 1/12 extra payment per month on your mortgage reduces the life of your loan by more than if you made one full extra payment per year.

if anyone knows more info on this, please confirm/deny. tia

this sounds worthy of further investigating.

Re: interesting mortgage information...

I posted this a while ago

if you make bi weekly payments or 1 extra payment a year you can save 7 years off a 30 year fixed mortgage (approx)

I'll try and find my old post and bump it for you

Re: interesting mortgage information...

ok, that's what i've researched.

but what she was saying was that making smaller or more frequent pre-payments will shave more years off the life of the loan than making "lump sum" payments less frequently.

have you heard of anything like that?

Re: interesting mortgage information...

Read this from the mortgage professor .

Message edited 3/31/2007 6:06:12 PM.

Re: interesting mortgage information...