Expert Opinions About Bi-Weekly Mortgage Reduction
Wall Street Journal, January 18, 1989 – “A $70,000 mortgage at 10.5% annual interest produces savings of $60,000 when repaid on a biweekly schedule.”
New York Times, October 22, 1988 – Comments “A biweekly mortgage is best for move-up home buyers and anyone who wants faster equity build -up…”
Parents, December 1986 – “The simple fact is that a biweekly mortgage schedule not only saves the homeowner a bundle, but makes him or her a homeowner much sooner.”
Business Week – “You can save a considerable amount of money through this plan.”
Mortgage Banking Magazine – “People move around and they see no equity buildup. With a biweekly mortgage, they see their mortgage payment as an investment.”
Biweekly payments have been recommended by, Money Magazine, Forbes Magazine, The Los Angeles Times, Sylvia Porter’s Personal Finance, and many other publications.
“O” the Oprah Magazine, March 2008 –“31 Solid Gold Ways to Save – Without Giving Up Your Latte” by Anne Kadet. ” Begin a biweekly payment plan. By sending in half your monthly mortgage payment every two weeks you make the equivalent of one extra payment a year. Following this schedule on a $300,000, 30 year mortgage would save you $77,000 in interest over the life of the loan.“
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