Sunday, April 09, 2006

Reduce your Interest Payments Painlessly

Reduce your Interest Payments Painlessly!
by Nancy Woodward

1. Pay your mortgage early whenever you can.

2. Make additional principal payments. Even small amounts will add up over time and reduce the interest you pay.

3. Don’t pay your mortgage late. The late fee assessed is larger than the amountyou would pay to overnight your payment to the Mortgage Company. A 5% penalty on a loan payment of $1,000.00 would cost you $50.00. You can overnight the payment, save dollars and your credit rating.

4. A mortgage calculator can help you determine how much additional to pay based on the length of time you wish to reduce from your loan.

I hope you have found this information useful. I plan to offer a free loan calculator for my friends and readers. More to come. Visit, for more articles on loans.


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