Posted by Tom-Pa on March 07, 2001 at 12:50:58:
Ray, what you said is true. I’m in the mortgage business, and as anyone in the business can tell you people say that they will do it but they don’t. How many extra payments have you made? I sell a bi-weekly program to alot of people that are trying to get there credit back on track so that they can refinance in a year or two. Some people just need a systematic program to follow. If the person is at a higher rate (because of credit problems). If they get into a program like this and get there credit back on track and then refinance after a year or two but keep making the same bi-weekly payment they could pay their house off in 10 to 12 years. If at that time they would put the money they were paying for the house into a good investment (mutual funds) they could have a nice amount to help with retirement.