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Registered
Join Date: Jul 2001
Location: Lawrenceville GA 30045
Posts: 7,456
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I've heard what I think is a rule of thumb - pay 1/2 a mortgage payment every 2 weeks. You are applying money towards principal earlier, but also over the course of 1 year, you've made 26 payments (of 1/2 the amount) which amounts to an extra months payment every year. I believe that pays off a mortgage 7 years early.
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Mark
'83 SC Targa - since 5/5/2001
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