Frequently Asked Questions

Why most do-it-yourself payment plans don't work

Although you have the option of accelerating principal reduction on your own, experience has shown that most Americans simply do not have the extra cash to make additional lump sum payments. Moreover, the great majority of homeowners, in fact, do not attempt to make additional principal payments.

Most of all, they don't know how

The truth is the average homeowner doesn't know how to check their mortgage to make sure it is being done correctly. Was the additional payment applied to principal, or was it applied to principal and interest, or just interest alone? Then how do you verify it? Most of us have always depended on the bank to do the right thing, haven't we?

Can banks offer biweekly mortgages?