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 1980's 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 it's arrival placing the biweekly
payment plan in the forefront of Canada's 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
loan's 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 loan's 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; that's without any increase to
your monthly
output. In other words, you'll 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 won't take a huge bite
from one paycheck. It doesn't take nuclear physicists to understand
why this type of arrangement is frequently referred to as
the "Common Sense Mortgage".
Now that there's 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.
It's your money. Once you've tried this equity acceleration
program (EAP) for yourself, you'll realize its value.
With more available choices, creating enjoyable lifestyles
and looking out for your family's 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.
Better Business Bureau (BBB) member, Bridgeco Central (BCC)
is a distributor and national service provider in the U.S.
of the on-line resource the Mortgage Manager Hi-Tech Mortgage
Payment Service. To obtain an application to apply for the
biweekly payment service at no cost visit http://www.eMortgageManager.net.
A password-protected mortgage-auditing program is also included
at no cost to the consumer after 6 months of using the service.
Welcome to the 21st Century.