A while back I saw an ad for a company that pretty much cycles your payments or something to pay down your mortgage more quickly. I can't find anything about it now, but at the time I wasn't in a position to do it and I might be now.Answer Question
Answer by customcat2000 at 1:58 PM on Oct. 9, 2008
I have heard of what customecat2000 as mentioned.
We do one payment but ontop of it we pay extra and apply that extra to principle only. We bought our house a little over a year ago, 30yr fixed mortgage, we have already taken that down 5yrs with paying extra ontop of our normal payment, remember make sure you put that extra for principle only.
I think it works like this, the extra money knocks down what you owe on the principle, so your interest will go down since your principle is. Anyway, it's working for us.
Answer by lovin2Bme at 2:28 PM on Oct. 9, 2008