In article <2044c106.0410260544.2b6255dc[at]posting.google.com> , jameson
<jambral79[at]yahoo.com> wrote:

- quote -

This is a scam. You can most likely pre-pay your loan without
paying any additional fees. This is just a scam to suck another
$180 a year out of you.

- quote -

Yes, that would about do it. But you are still making it more
complex than what you need to. The bi-weekly thing makes 13 full
monthly payments a year rather than the standard 12. All you need
to do to get the same effect is make an additional full payment at
the start of the year. Make sure you pay it as "additional principal"
rather than an early payment. You can do that with one check, so
there is no need to pay $15 a month for that service.

-john-

--
================================================== ==================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
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If this is the wrong newsgroup to post such a question in, forgive me,
and if possible, direct me to the right place...

my mortgage company sent me a letter in the hopes that I would join
thier "equity accelerator program". Basically they take money straight
out of my checking account, but only about 15 bucks more a month
total... BUT, they take it out every two weeks, not twice a month. So
basically I would pay my normal house payment one-and-a-half times 2
or 3 months out of the year...
they claim this will help me gain equity and pay my house off
sooner....

example:
if my monthly payment now is $1000, they will take $510 out every two
weeks... which can result in this happening 3 times, depending on the
month.

my question is this:
would I get the same results from simply raising my monthly payment 15
or 20 bucks a month, and on the months I get 3 paychecks (which
happens 2 or 3 months out of the year) could I just pay my normal
monthly payment multiplied by 1.5?

Id rather do that than have a companys claws in my checking account...
any thoughts?
Thanks in advance!
JAzz Mann