What mortgage servicers will APPLY bi-weekly payments to the mortgage 26x/yr vs 12x/yr?
Citimortgage only applies bi-weekly payments to the mortgage 12x/yr. Benefit is in the extra payment. I want true bi-weekly to reduce interest faster / payoff loan quicker. Anybody know a servicer that offers it ? I’m ready to refi over this !
I already pay extra towards principle. The difference is significant if the servicer accepts bi-weekly payments in addition to extra principle – the mortgage is paid off years earlier for no extra cash.