One of the most precious assets that you are likely to possess as you progress through life is your home. Owning their own homes is something that most Americans strive for.
Unfortunately, for the vast majority of people, one of the major drawbacks in owning a home is the long-term mortgage that must be paid off. Mortgages often stretch out 30 years with interest and principal repayments.
Most mortgage repayments are made on a monthly basis. However, arranging to make payments biweekly can have a dramatic effect on the amount of money you have to pay and the time frame before it is all paid off.
- Written by Charles Sims Jr.