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Auto paying

February 20th, 2006 at 03:03 pm

I want to see if it is possible to have my mortgage company automatically take out some extra each month, they already take out the payment each month. If I get it auto extra, it will be more likely to happen, rather than 'if maybe we might have extra' that sortof leaves the door open to not pay extra.

I have no willpower, I need external controls!

2 Responses to “Auto paying”

  1. contrary1 Says:

    I tried that with a mortage, granted not my current one..........but the extra couldn't be applied to the interest, it was just too difficult for them. So, I didn't do it. I just told myself the payment was X amount extra for the month & stuck to it. Since I had refinanced the loan (to get a better interest rate), it was pretty easy, as the payment was still lower than what I'd been paying.

  2. mjrube94 Says:

    My mortgage is with Washington Mutual, and they did it. I asked them to take an extra $100/month and apply it toward the principal. They even list it out separately from the regular principal and interest.

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