tag:blogger.com,1999:blog-13259011.post7007678782586076914..comments2023-12-14T07:05:21.979-08:00Comments on Chief Family Officer: Warning for new mortgage holders: Ignore that biweekly payment invitationChief Family Officerhttp://www.blogger.com/profile/02320154821990804327noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-13259011.post-40839453070104965712009-04-07T16:20:00.000-07:002009-04-07T16:20:00.000-07:00I agree with you on that! While we haven't been a...I agree with you on that! While we haven't been able to pay the extra principal, we have gotten several of those notices too. While it looks good, after reading the fine print it really is not that great of a bargain-especially in these times. Eventually, when we are in a financial position to do so, we will be checking into the pre-payment without penalties/fees etc... and pay some of our mortgage-glad you brought it up!Michele P.https://www.blogger.com/profile/12378360564649821012noreply@blogger.comtag:blogger.com,1999:blog-13259011.post-38556162307076447772009-04-03T07:42:00.000-07:002009-04-03T07:42:00.000-07:00They aren't always a bad deal. I've been doing min...They aren't always a bad deal. I've been doing mine now for 6 years. I've got a good lender though. You really need to check out the program. If they hold the money until all of the payment is there, and THEN apply the payment it really isn't a good deal. If they apply the half payment as soon as they receive it, it is a good deal. I should have my mortgage paid off in 17 years rather than 30, simply by doing this.Marciahttps://www.blogger.com/profile/16080509099483259696noreply@blogger.comtag:blogger.com,1999:blog-13259011.post-16634351145473770372009-04-02T13:19:00.000-07:002009-04-02T13:19:00.000-07:00To do it on your own, you just need to add extra t...To do it on your own, you just need to add extra to each payment. But what you can't do is send your lender two smaller payments--they'll treat each one as pre-payment of principal and it won't count toward your actual monthly payment. Ask me how I found that out!:-)<BR/><BR/>It's good to get the word out on these programs, as they're such a very bad deal.Clean ClutterFree Simplehttps://www.blogger.com/profile/10620436846697633569noreply@blogger.comtag:blogger.com,1999:blog-13259011.post-88611087462008050292009-04-02T12:42:00.000-07:002009-04-02T12:42:00.000-07:00Seriously?? They are charging for something you ca...Seriously?? They are charging for something you can do all on your own? That's ingenious, really!Camillehttps://www.blogger.com/profile/07665568491378947842noreply@blogger.comtag:blogger.com,1999:blog-13259011.post-60591605928598308482009-04-02T04:27:00.000-07:002009-04-02T04:27:00.000-07:00Thanks for shedding light on this topic! It alway...Thanks for shedding light on this topic! It always amazing me how much these people think they can charge for this "service".<BR/><BR/>If you are serious about this, you can do it automatically, not to mention completely free with any bank who offers online bill paying!Baker @ Man Vs. Debthttp://manvsdebt.comnoreply@blogger.com