The 21st Century Way To Build EquityB F Boggan Here to stay and firmly established in the U.S. mortgage market, biweekly mortgage payments are gaining momentum. First introduced into the U.S. in the early 1980s by several small Northeastern Banks, the idea of biweekly mortgages has its origins in Canada. This concept soon became the popular choice nationally within less than a decade after its arrival placing the biweekly payment plan in the forefront of Canadas mortgage industry around 1972 for several good reasons. Consider the following: 1. Most people are paid weekly or biweekly, therefore, it is reasonable to have as an option "biweekly mortgage payments". 2. On a biweekly mortgage payment schedule, one half of a loans monthly payment is made and credited to the account holder every two weeks. This is equivalent to making 13 monthly payments instead of the usual 12 monthly payments reducing the loans payoff time. 3. Faster accumulation of equity build up of up to 300%, plus a reduction in interest owed on the loan due to your prepayment is the result of using a biweekly payment schedule; thats without any increase to your monthly output. In other words, youll get more value per dollar and save thousands as well; as much as 25% to 30% in interest over the life of the loan. Combine the benefits of a biweekly payment schedule with a union between an Electronic Funds Transfer EFT mode of account servicing that is governed by Regulation "E" of the Federal Reserve to a plug into the internet and you will find a super-efficient, safe, consumer-friendly method of paying a monthly obligation that wont take a huge bite from one paycheck. It doesnt take nuclear physicists to understand why this type of arrangement is frequently referred to as the "Common Sense Mortgage". Now that theres breathing room because money has been "freed-up" and also saved by using a service such as this, go on an excursion for some sunshine, sand and surf, have dinner at a five-star restaurant, or better still, invest in your financial future. Its your money. Once youve tried this equity acceleration program EAP for yourself, youll realize its value. With more available choices, creating enjoyable lifestyles and looking out for your familys financial well being is easier today than it ever has been. The bad news is that time is not on you side with a standard monthly mortgage payment on a 30 year loan. As a matter of fact, you are not getting the most for your money. The good news is that help is here; the technology does exists giving consumers unparalleled conveniences plus an advantaged boost. Welcome to the 21st Century.
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