How Do You Get A Bi-Monthly Mortgage Payment?
Bimonthly mortgage payments are simply a different way to pay. Different from biweekly mortgage payments (when half a mortgage payment is made every two weeks), bimonthly payments simply divide your mortgage payment in two, then require you to make half a payment twice a month on specified dates–often the 15th and 30th of the month. Arranging this is simple. Contact your lender to find out if there is a proprietary payment plan. Some lenders have their own accounts exclusively for mortgage payments. Often, a percentage of your paycheck is deposited into this account, then automatically debited twice a month for your mortgage payment. Pay bimonthly on your own, without the help of your lender. Just divide your payment in half, decide upon two dates during the month (the 15th and the 30th are common) and make half payments on these two dates. Make sure to stay on top of this, if you are sending checks. Set up auto debits at your own bank. Most large banks now offer e-bill payments, ofte
