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I'm now at a point where I'd like to send at least 1 extra payment
to my mortgage company each year. I know that my loan will be paid off
sooner because of this. I've a few questions.
1) I believe sending 1 extra payment will help the loan to be paid off
about 6 years sooner. Is it good to send more than 1 payment if
possible?
2) My mortgage company allows you to pay extra to either interest or
principle. Which is better or should I stick with the current break
down as they are requiring me to pay for each year?
Thank you.
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Extra Payment(s) to mortgage
