Paying mortgage monthly or bi-weekly?

[Roberto Santana]

I've read that just by switching your mortgage payments from monthly or bi-monthly to bi-weekly you can save a ton on your interest over a 30 year period. This led me to researching the difference between bi-monthly and mi-weekly payments as well. It makes sense now but is anyone using this to pay their mortgage off?

[Wayne Brooks]

It's quite simple......by making 26 "half" payments you are simply making an extra payment year.  You're better off just writing an extra principal payment. And, it does Not improve your cash flow as it doesn't change your payment, it actually decreases the annual cash flow by one payment.  The return on your extra payments is Exactly whatever your interest rate is.