Seven Mistakes: Mortgage and Money
Posted on November 11, 2006
Filed Under Mortgage Updates
Here you can check out a series of seven mistakes that are commonly made when choosing a mortgage. They show examples of money savings on 15 year v 30 year mortgages.
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Looking back over the past 12 years of paying off my mortgage, I always made the practice of rounding up to the next $100 when making a payment. Not only does it make it easier to write out the check (e.g., One thousand six hundred instead of One thousand five hundred forty-five and 89/100), the extra $50 in principal saved a lot money in interest payments.