Viewing a single comment thread. View all comments

BaronCapdeville t1_j6oky95 wrote

Reply to comment by LurdMcTurdIII in Does making half of a mortgage payment every 2 weeks pay off the mortgage years sooner than making a full payment every month? by throwinggushers

It only goes toward principal if you call and confirm the process for applying payments to principal with your mortgage servicer.

Simply making an extra payment is not a guarantee of paying down principal. Loan verbiage and loan servicer practices vary greatly across the country.

28

LurdMcTurdIII t1_j6ol5yh wrote

You're right, I do have to specify.

6

BaronCapdeville t1_j6olzim wrote

Just pointing that out because my folks paid in for a decade and all of it went towards prepaying their payments, none of it counted any extra toward their principal.

No disrespect.

12