In response to:

Dave Says-Forget Mortgage Accelerator Plans

Ginamero Wrote: Feb 03, 2013 8:31 AM
Here's the deal Dave, it takes a lot of hard work and discipline to live within your budget and not get into debt. What you say about the $3,500 mortgage accelerator I'v said to my friends about them buying your books and plans and tapes. It's as simple as not being overweight....do not spend more than you make and save up for special or big ticket items. But they do not listen to me and when ever they call me with some deal for a car or buyers direct or Christmas party ideas because they are low on cash I always ask them, "What would Dave Ramsey say?" It's the only thing that works. My opinion and ideas - they always try and talk me into saying yes and it never works.

Dear Dave,

How do you feel about mortgage accelerator plans? Can you please explain them?

Doug

Dear Doug,

Basically, there are two types of mortgage accelerator plans floating around out there. First, there’s the old bi-weekly mortgage where you make half of a payment every two weeks. This will drop the length of time you’ll pay on a 30-year mortgage down to about 22 years. Most companies will charge a fee to service these programs, but I think that’s ridiculous. There’s no way I’d pay someone to do this for me.

Think about it. There are 26 two-week periods in a year, and 26...

Related Tags: Jobs Economy News Mortgage