Is This a Bi-Weekly Payment Program

Is This a Bi-Weekly Payment Program

No. Bi-weekly programs have a homeowner make a payment every two weeks (same monthly amount broken into two payments) to effectively cut off 7.5 years a 30-year mortgage on average. Our system actually works reduces the mortgage even better than bi-weekly payments - and it doesn't requiring extra payments to be made. In many cases, monthly payments go down when budget, timing and the mortgage type are chosen correctly.

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    • How Much Extra Do We Add To Monthly Payments

      Nothing! In fact, the more one uses their HELOC like a regular bank account - the quicker the mortgage is paid off, but with zero extra payments!

    • Can A HELOC Reduce The Monthly Minimum Payments

      Yes, it can reduce the monthly minimum payments and as time goes on the monthly minimums will continue to decrease as the principal balance is lowered. In fact, most HELOCs only charge an interest-only payment that is typically much less than a ...

    • When Will The Account Post The Payment Made For The HELOC

      Payments are credited to the account according to the lender's terms and conditions. When payment is made online, it may take up to 1 business day to credit. When payment is made by mail or phone, the payment is credited when the lender receives them ...

    • Can The Home Loan Be Recast To Lower Payment & Interest

      Yes. A loan recast is when the lender will reamortize the loan with the new (lower) balance. It is typically used when one has paid a lump sum toward the outstanding balance, in turn reducing the remaining monthly payments and interest. When a loan ...

    • We Need Help Lowering Our HELOC Payments Due To Loss / Income / Medical Issue

      One can get the HELOC payment down a bit by contacting the lender and asking them to recast the loan by stating, “Can this loan be recast with the remaining principal balance, over a 30 year term, so it drops the minimum payments?”