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No argument with the tax info, but

Any additional prepayments will be applied to reduce your principal and will not include any interest component.

I don't believe this is necessarily correct, at least not always. You should be able to specify how you want additional money applied - future payments, principal reduction, even extra escrow. The payment coupons I've seen have boxes to enter this, and if not you could include a note.

As irasmilo said, this doesn't help you bunch deductions beyond the January payment, but you can do it if you want to (for example: going to be travelling and don't want to bother mailing next month's payment from where ever.)
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