Savvy Spender
Live Well For Less

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    Get Out Of Debt - Free!

    Wednesday, November 02, 2005
    Never pay your mortgage company the huge fee that they charge you for the bi-weekly mortgage!!! I cannot stress the fact that this is a huge waste of money on many levels. The first and foremost level is the fact that you can apply extra to principal on your mortgage every month for free - just make sure that the bank has a line on your bill that says "extra principal payment". You can even go so far as to call and make sure they have applied the extra properly. Also, mortgage debt is normally the cheapest long-term interest rate that you will ever have, so in many cases it is not good to pay it off and then carry debt at a higher rate on credit cards or on a line of credit.