Pay your mortgage bi-weekly?

Did you know that you can make mortgage payments bi-weekly and save some money by doing so? If you're a first time homeowner than you probably have a lot on your plate already than to worry on how to make bi-weekly payments. The Jacksonville movers think it's worth getting involved into these plans because you can save a lot of money. According to the Los Angeles Times, paying off your mortgage bi-weekly rather than monthly can shave years off the life of your loan and thus save you thousands of dollars in interest. Joining these types of plans are not always free according to Kathy Kristof of the L.A. Times. Some lenders charge customers to join, but even with these extra fees it's still worth. The money you'll save is way more than the charge. Look for lenders that don't charge as well, such as such as Wells Fargo for example. Citibank charges $375 to join the plan and then charges $1.50 per transaction. How much can you save by paying your mortgage bi-weekly? Well consider this example: A consumer with a $200,000, 30-year mortgage at 5%, could pay off this loan five years faster and save $33,000 in interest by paying biweekly, according to Diana Rodriguez, a spokeswoman for Wells Fargo Bank. Talk about saving money! The Jacksonville movers suggest joining the bi-weekly payment plan and they also suggest that you call them for your next move. They are backed by four generations of moving experience so you can rest assured that you're belongings are in good hands.