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Personal Finance > Mortgages & Home Loans How to reduce your mortgage interest: The advantages of bi-weekly payments

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How to reduce your mortgage interest: The advantages of bi-weekly payments

Who wouldn't want to save thousands, even tens of thousands, of dollars in mortgage interest on their home loan? To add to the attraction of paying less interest what if you could also reduce the term of your loan? How?

You could pay an annual lump sum amount equal to an extra payment but, let's face it, some of us just can't seem to maintain a savings plan so a lump sum payment doesn't seem practical.

Another common way to save on interest paid has been to divide your monthly payment by 12 (months) and se...

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