Re: Mortgage prepayment question

joetaxpayer wrote:
> 
> 

> Yes. You are correct as long as you specify the extra money goes to 
> principal. If paying the mortgage early is your goal, this is a great 
> way to view it. 
> 

I've always done exactly this with my mortgages.  Some might say, why 
not just get a bi-weekly mortgage and make the scheduled payments?

However, the beauty of including the next principal amount in your 
current payment is its flexibility.  In other words, include next 
month's principal whenever your finances allow.  If you can't swing the 
extra principle payment in a given month, just make the required payment.

Of course, as many have pointed out already, this is much easier to do 
early in the loan, as the monthly principal ****tion grows with time.

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