As we accumulate more debt we find ourselves saying, “My bills are due already? That month flew by!” You may wonder why someone like me would want a bi weekly mortgage payment. I noticed that time seems to move faster as we get older and I have come to the determination that this sense is due to monthly bills. You would think that this would really make time soar.

However, I also discovered that not all loans are created the same. Also, some banks do not allow customers to split the payments into smaller increments. Granted, I was only a clerk who processed payments but I stilled learned a great deal about interest.

One of our customers personally delivered his bi weekly mortgage payment all of the other week. My interest in the bi weekly mortgage payment started while I was at work at the loan company. The principal on his loan shrunk much quicker than the principal on regular monthly options.

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Portion From Next Article: Buying a new home is a complicated process. I never realized how many little details can get in the way of making a final decision. Continue >>

A person who pays a bi weekly mortgage payment will pay less interest throughout the life of the loan. However, finding a bank that was willing to give me a bi weekly mortgage payment was a little challenging. However, I chose this approach for a simple reason: principal.

I was taken back by the amount of interest people pay over the course of a loan. Not only did I want to score a fixed interest rate. Way back when I worked for a loan company. I wanted a low interest rate and I wanted a bi weekly mortgage payment.

Some of us prefer to write two smaller checks every two weeks rather than building the strength it requires writing out one big check at the beginning of the month. If you consider your own traits and personality you can decide if a bi weekly mortgage payment is right for you.

One of the things that are appealing about a bi weekly mortgage payment is that I can pay my mortgage right after I deposit my paycheck. Many of us can’t remember to make payments that are spread too far apart. This is a great approach to insuring that even the most forgetful in these fleeting times remembers his mortgage.

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Happy Thanksgiving Holiday!

FirstMac Sells A$600 Million Mortgage-Backed Bonds (Update1)
Bloomberg - 1 hour, 28 minutes ago Nov. 17 (Bloomberg) -- FirstMac Ltd., the Australian non- bank lender, sold A$600 million ($384 million) of bonds backed by residential home loans, reducing the issue from a planned A$700 million.
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