D.C. Area Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Does anyone here pay their mortgage payment bi-weekly?
I was just messing around with on-line mortgage calculators and dreaming of a day when we could pay more towards principal (2013) and trying to figure out how to figure out the best way to pay down the mortgage more agressively - but not too agressively. I think this bi-weekly thing wouldn't hurt too much, and it looks like you pay your mortgage off several years early. I have no idea if there is a fee to do this with my mortgage company or not. I think there is no penalty if we wanted to pay more on the principal.
Just musing.
ETA - eh, forget it. After more web surfing it looks like just paying more towards principal is the way to go.
Wife, Musician, Fed, WW-er, and Mom of three little kids - not necessarily in that order.
Re: Does anyone here pay their mortgage payment bi-weekly?
there is no penalty to pre-pay.
we do this plus we pay two extra payments a year (divided up among the 26 payments). it is nice to see the principal number go down!
I read somewhere that if you pay an extra payment a year, it takes up to 10 year off your 30 year mortgage. Here is a calculator for extra payments
I had a long conversation with our mortgage broker about this same thing. She basically said not to pay the fee (or mortgage holder has a fee for this service). In lieu of doing this she suggested making at least one extra payment a year. You can either pay the equivelant over 12 months, or make one extra lump payment.
We do this. It was an option through our lender (Wells Fargo) and didn't cost anything extra. Our mortgage will be paid off in 22.5 vs. 30 years, so we have less than 20 to go--woohoo!
We have also made a couple of extra principal payments. It's not a huge difference but it's nice to see the payoff number go down.
yes, we do this; just set it up with your mortgage company and have it be an automated payment, this way you won't have to put $$ away to send a check towards principal. Our 15yr mortgage will be paid off in just over 13 yrs b/c of this. I think I have it set up to pay right after we get our paychecks.