Reply #19: I'm paying my mortgage down early myself [View All]

[harper]

I got an offer from my mortgage company for a bimonthly accelerated mortgage payment plan by automatic deduction from my bank account. They would set it up for an initial 300 dollar fee plus a small fee per payment.

I decided to do it myself and save the 300 dollars. I pay $100 extra per monthly payment to be applied towards the principle of the loan. That works out to an extra $1200/year.

It does take some discipline to write that check, but I figure I'm saving a lot down the line every time I send in a payment.