Posted on: 25th Sep, 2010 12:09 pm
I currently have a small mortgage on my home which was financed for 10 years. I now have seven years left to pay on it. I want to have it paid off in 6 years as I will be retiring and I don't want to have a mortgage payment. It was financed privately and when I asked about making bi-weekly payments or an additional amount to my monthlly payment, they want me to have a lawyer do new paperwork. But should I not be able to make bi-weekly payments or an pay an additional amount each month to get this paid off in six years without going through the expense of new paperwork?
there is no law forcing them to offer bi-weekly payments.