Semi-monthly mortgage payments will save you 8 years

Yesterday I received a letter in the mail asking me to switch to semi-monthly mortgage payments. Well it actually said bi-monthly but who really knows what that means?

Mortgages – Smarter Mortgage

The bottom line is if I pay twice a month to my mortgage in an amount that is equal to my normal monthly mortgage then I will save almost 8 years. It will take me about 22 years to pay off a 30 year mortgage.

That is a HUGE savings and you can take that to the bank.

Home Ownership Freedom