Posted by Jim Rayner on July 24, 2003 at 16:02:40:
You can accomplish the equivalent savings of a biweekly payment by sending in just the monthly payment plus one twelfth of a normal payment to be applied to the principle balance each month. This should be less apt to cause posting error. Besure to state on the check that the extra funds are to be applied to the priciple balance.
I have been doing this for years with never a single glitch and no fees to save the same on the interest as a biweekly plan.