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Author: ALLENKREBS Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121189  
Subject: Re: 401K vs 15 year loan Date: 6/3/1998 12:12 PM
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SAW YOUR MESSAGE, PROVIDING THAT YOU HAVE NO PRE-PAYMENT PENALTY ON MORTGAGE, WHY DON'T YOU SPLIT YOUR PAYMENT INTO TWO PARTS, PAY EVERY TWO WEEKS INSTEAD OF ONCE A MONTH, THIS WILL EFFECTIVELY LOWER YOUR TIME PAYMENT. YOU CAN ALSO PRE-PAY ONE MONTH PAYMENT IN ADVANCE WITH YOUR STANDARD MONTHLY PAYMENT,(ONE TIME ONLY) THEN THE FOLLOWING MONTH, PAY YOUR STANDARD MONTHLY PAYMENT WITH A LETTER (MAKE A COPY WITH ACCT# ECT.. FOR FUTURE MONTHS) THAT YOU ARE PRE-PAYING YOUR NOTE ONE MONTH IN ADVANCE. THIS WILL ALSO EFFECTLY REDUCE A 30 YR DOWN TO APPROX. 15 YR NOTE WITHOUT RE-FINANCE ECT...
GOOD LUCK
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