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Bi Weekly Mortgage Payments
I just enrolled in one. My current mortgage is actually brand new. It's a 20 year fixed at 5%. I haven't even made my first payment. When it's all said and done I will pay the loan off in 16 years 8 months. I paid a $245 enrollment fee and will pay a $3.50 monthly service fee. That's $945 in fees over almost 17 years. The interest saved over that time will be $19057. The company providing the service is National Biweekly Administration. Seems like a good deal. When I'm 56 my house will be paid for. This appeals to me. Anyone else enrolled in one of these, or familiar with it? Any thing I'm not seeing before it's too late?
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-Mark B. Hardware Store Engineer
1988 911 - 3.6
1999 SL500 - Gone
1995 M3 - LS2 - Gone
1993 RS America - Gone
Last edited by GG Allin; 04-26-2010 at 07:55 AM..
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