What would you do? Mortgage question? - Page 3

2bearsmom · 06-10-2008, 06:45 AM

Quote:

Originally Posted by T-shell

I agree with going for the 30 or 20 year loan and making extra payments when you can. As far as the bi-weekly payment plans go, yes they can save you money, but if your employment situation changes (pay frequency change too), then having to pay 1/2 the mortgage payment bi-weekly can throw your budget for a loop.

That is the primary reason I said to do it yourself, not let the company set it up for you. This way if anything does happen and they are financially unable pay extra, they can pay what they are only required to, but if you let the mortgage company set it up for you, you are bound to those payments.

PaulaSue · 06-11-2008, 08:39 PM

Thanks all! It is so nice to be able to talk to others (DH is not much help, LOL) and get fresh ideas without "our" friends knowing everything. KWIM