Which style of Mortgage Payments is better for a Homeowner,
1)Paying Biweekly
2)Lumpsome an Extra Payment once every Year
in 1) disadvantage is there is an extra 300$ for enrollment fees to be paid.
in 2) advantage is that you can pay as & when you have extra cash to pay.
Also, if you pay Extra payments than 2), to shorten your loan-length, is there any hidden disadvantage?
Ken, How can it be less empacting?
Again Clarifying part 1 of my question :
if I make one extra payment every year, at start of the year (towards Principal, of course)
How is this scene different from enrolling in Biweekly? (other than losing 300$ extra in enrollment fee)