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Begin a Biweekly Payment Plan
By sending in half your monthly mortgage payment every two weeks, you make the equivalent of one extra payment a year. Following this schedule on a $300,000, 30-year mortgage would save you $77,000 in interest over the life of the loan.
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.