Money Matters
athomas2424
member
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.
anyone do bi-weekly mortgage pymts to pay 1 extra note/yr?
If you do this, is there a charge for it? I've had many friends have their bank offer this and there was always a fee to do it. I guess a mere fee is worth shaving 5-7 years off your loan, but just wondering if there is a way to set this up without being charged.
Re: anyone do bi-weekly mortgage pymts to pay 1 extra note/yr?
Our mortgage is with Wells Fargo and we do biweekly payments so we end up making a 13th payment each year. They do not charge a fee.
If there is a charge, just take your payment amount and divide by 12. Add that to you payment, and after 12 months you make an extra payment.
I don't use my banks program. There's an enrolment fee and a per payment fee.
There's two other ways you can do this.
1) Make one extra payment every year.
2) Add 1/12 of the amount to each and every payment you send in.
Both of these will accomplish the same goal. #2 should accomplish it a little sooner than #1 as you're bringing the principal down constantly, not just once a year.
You could also make extra payments twice a year, or quarterly, or every other month. Whatever works for you.
We do this. There isn't a fee. We'll save $80k by doing it.
We've done extra payments once a year, and we were never charged. Our mortgage is with our local bank.